Opinion: No matter who takes over as Federal Reserve Chair, the U.S. Treasury Secretary is the real power holder.

BlockBeats News, December 15 — According to market analyst Gabriel Rubin, the tight control that U.S. Treasury Secretary Janet Yellen has over the selection process for the next Federal Reserve Chair means that whoever obtains this position, this U.S. Treasury Secretary will effectively control the Federal Reserve. According to government statements, Yellen has set clear standards for the selection of Jerome Powell’s successor: any regulatory agenda must align with the White House; interest rates should be significantly lowered, as concerns about inflation caused by tariffs are exaggerated; the issuance and management of government debt should be handled by the Treasury Department, not the Federal Reserve. Gabriel Rubin believes that the U.S. will eventually face another economic or financial crisis. An independent Federal Reserve with compromised autonomy means that, when a crisis occurs, more power will be concentrated in the hands of the government. Central banks need to earn public trust and recognition to control inflation and ensure healthy credit, which the Treasury Department of the Trump administration cannot provide.