Trump and the Federal Reserve have fallen into a "game of chicken," where one side must make the first concession.

BlockBeats news: On April 22, market analysts stated that if the market wants to feel a broader sense of market anxiety, it only needs to look at U.S. Treasury bonds. Currently, long-term U.S. Treasury yields have started to rise again, which will keep risk sentiment tense as this week's trading unfolds. At present, traders and investors are gradually losing confidence in reaching any trade agreement in the short term, and U.S. assets are also heavily impacted. It was precisely the bond market that led Trump to make a pause concession on tariffs. However, after two weeks of turmoil, the current situation is no better than before.

Essentially, Trump and the Federal Reserve must have one side make the first concession, playing a "game of chicken." If Powell and his colleagues take action by urgently buying U.S. Treasuries, it would bring some short-term relief. However, this move signals that Trump's tough stance on tariffs will persist longer. (Jin10)