The Federal Reserve requires total control and auditing — this was stated by U.S. Treasury Secretary Scott Bessent twice this week: on Monday and Tuesday. According to Bessent, the U.S. central bank is out of control, and its operations are growing every year. "We need to examine all the Fed's documentation to determine whether the institution is effectively fulfilling its responsibilities. Everything the Fed has done in recent years has just kept growing, growing, and growing. That happens when there's no oversight," Bessent claimed.

From the Treasury Secretary's words, one thing is clear to me — he has completely adopted Donald Trump's communication style. It's unclear what exactly he thinks has been "growing." And what happens when there's no oversight? Also unclear. The Fed is a nonprofit organization that performs central banking functions. Can you imagine any other country where the Finance Ministry launches an audit of the central bank? Or accuses it of embezzlement, fraud, and manipulation? Indeed, such things might happen in unstable countries — but in the U.S.?

Nevertheless, such a situation has become reality in America in 2025. Now, class action lawsuits are being filed against the president, and the president himself openly ignores the Constitution — without even trying to hide it. Jerome Powell is simply getting in Trump's way of running the country as he sees fit. So, Powell must be removed from office as soon as possible — by any means necessary.

This is why the cost overrun for renovating the Fed's headquarters (which was approved by Congress) has sparked public outrage, Powell is being accused of various types of misconduct, and the Treasury is planning to conduct an audit of the central bank. Clearly, all of this is being done solely to push Powell into voluntarily resigning. And if the audit uncovers any "leads" or inconsistencies, even better — those can also be used against him.

Despite recent statements from Trump and Bessent suggesting that firing Powell is not necessary, in reality we are seeing a completely different picture. The U.S. President is essentially giving the Fed Chair a choice: either step down voluntarily, or we'll keep digging for dirt.

Wave outlook for EUR/USD:

Based on the analysis of EUR/USD, I conclude that the instrument continues to build a bullish trend segment. The wave pattern still largely depends on the news background related to Trump's decisions and U.S. foreign policy — and so far, there have been no positive changes. The trend's targets may extend to the 1.25 area. Therefore, I continue to view buying opportunities with targets around 1.1875 (which corresponds to the 161.8% Fibonacci level) and higher. The failed attempt to break below the 1.1572 level (100.0% Fibonacci) indicates the market's readiness for further EUR/USD purchases.

Wave outlook for GBP/USD:

The wave pattern for GBP/USD remains unchanged. We are dealing with a bullish, impulsive trend segment. Under Trump, markets may face many more shocks and reversals, which could significantly impact the wave pattern. However, at this point, the main scenario remains intact. The current bullish trend segment targets the 1.4017 level, which corresponds to 261.8% Fibonacci from the assumed global wave 2. A corrective wave structure is currently developing. According to classic theory, it should consist of three waves, though the market may settle for just one.

Core Principles of My Analysis:

1. Wave structures should be simple and understandable. Complex patterns are difficult to interpret and often subject to revisions.
2. If there is no confidence in the market situation, it's better to stay out.
3. One can never have 100% certainty in the direction of market movement. Don't forget to use protective Stop Loss orders.
4. Wave analysis can be combined with other types of analysis and trading strategies.