Seeing Trump continuously calling Federal Reserve Chairman Powell an idiot and "Mr. Too Late", and demanding that the Federal Reserve quickly cut interest rates, many might not quite understand what these two are really arguing about, or what kind of system each is insisting on.

First of all, this is a struggle for the right to interpret the American economy: whoever understands the American economy better has the truth and authority regarding it. Over the past hundred years, this right to interpret has actually belonged to The Federal Reserve (FED); the White House can express itself according to its own achievements and needs, but when people look at the American economy, they mainly refer to the interpretations and actions of The Federal Reserve (FED). But now it can no longer be like that; the White House wants to take back the interpretation rights of The Federal Reserve (FED) over the American economy, followed by the real control of monetary policy and so on.
Secondly, the White House can only better coordinate the implementation of policies such as tariffs by regaining the right to explain the U.S. economy. If tariffs lead to inflation in the U.S., and The Federal Reserve (FED) issues warnings, maintaining high interest rates and so on, then the dissatisfaction in American society regarding tariffs will increase, making it very difficult to advance.
The third point is that when the economy encounters problems, the right to explain is often crucial, as it involves specific actions. Just like when Japan fell into deflation, discussions lasted for more than a decade, and only in the end did they have to admit the harm of deflation, reaching a consensus on the conclusion of a balance sheet recession. It can also be said that it was only after the lost two decades that Japan began to implement policies such as Abe's three arrows, which promoted the formation of a consensus on explaining Japan's economic issues and the concentrated release of policies in the past decade, allowing it to gradually emerge from deflation.
The debate over the interpretation of the U.S. economy that the U.S. economy is currently facing has just begun; in fact, it is not yet time to discuss a consensus on action.