I know, Trump is the last episode of this. I also remember when Powell cut rates 50 basis points last September, just to boost the economy before the election in November.
This doesn't affect the fact that an independent FED is by far the most important aspect for the Dollar in the future.
Otherwise, welcome to Zimbabwe.
Independent FED is definitely important, but independent doesn't mean without any agenda. Sure, no president has any power over FED, that is an awesome thing, and every FED in the whole world should be independent like that.
The "agenda" part struck me really big. Both the president and the head of the central bank could have their "agendas," but who cares? So long as it's an autonomous organisation, every party should respect that.
The US is a leader, this is why people are more concerned. We've seen the excesses of nations' presidents against the central bank heads (Governor, President, Chairman, etc., depending on the country/region (Bloc)). An example is in 2021 when the Turkish president, Recep Tayyip Erdoğan, sacked the central bank governor, Naci Agbal for hiking the interest rate against his wish, and replaced him with Şahap Kavcıoğlu, who was known for low-rate advocacy.
You might want to ask: Is the Turkish central bank not autonomous? It is autonomous, but all these overruling presidents do as they like, they believe like a dictator, and nothing will happen. However, the US is a strong exception, a role model for the world, which is why the global market was apprehensive when Trump started his nonsense against the FED.
https://www.aljazeera.com/news/2021/3/20/turkeys-erdogan-sacks-central-bank-governor-after-rate-hike