Is Trump’s Great Reset the end of the Fed’s life support? The fall of Ranieri’s financial capitalism and the return of the old economy?| Market Commentary for April 22, 2025

In the early hours of April 22, 2025 (Japan time), the U.S. market plunged. The S&P 500 dropped by 2.36%, while the VIX and MOVE indexes surged. Interest rates and credit default swaps (CDS) also climbed sharply.Meanwhile, former President Trump is reportedly considering firing Federal Reserve Chair Jerome Powell.The Fed has long served as a life-support system for the U.S. economy—using monetary easing and rate cuts to prolong economic expansions. Combined with the securitization revolution that transformed traditional banking, this entire "extension structure" may now be under threat.Is this the true face of Trump’s “Great American Reset”—a radical break from financial capitalism and a push to dismantle the system built by the likes of Louis Ranieri?Gold, Bitcoin, and the revival of the old economy—could this be the turning point for an economic order long dominated by entrenched financial elites?___I am Japanese.English version.