Financial Times: Impaired Federal Reserve Independence Threatens Global Financial 'Lifeline' BlockBeats News: On January 16th, according to the Financial Times, the US Department of Justice launched a criminal investigation into Federal Reserve Chairman Powell, raising concerns among global central banks about the chain risk of the Fed's independence being compromised. This not only concerns the direction of US monetary policy, but also directly threatens the key crisis tool of the global financial system - the currency swap agreement. The swap agreement is the core mechanism through which the Federal Reserve provides US dollar liquidity to other central banks during times of crisis, and has played a "financial lifeline" role multiple times from global financial crises to pandemics. However, the Trump administration's pressure on the central bank has raised concerns that such tools may be politicized. Last year, European officials discussed establishing alternative solutions, reflecting the vigilance of various countries towards the possibility of weaponizing their dependence on US dollar liquidity. Analysis suggests that if the United States binds swap agreements to geopolitical interests, its ability to respond to global crises will face severe tests.