The chief investment officer of the largest asset manager in Europe has issued a warning regarding President Donald Trump’s recent executive order that tightens control over independent U.S. regulators. Vincent Mortier, the chief investment officer of Amundi – managing assets worth 2.2 trillion euros ($2.312 trillion) – labeled the move as “a significant mistake.” In an interview with the Financial Times, Mortier emphasized that trust from investors is crucial for the proper functioning of U.S. markets.
Trump’s executive order, issued on February 18, mandates that independent regulatory agencies must submit draft regulations for White House review. It also requires federal agencies to consult with the White House on priorities and strategic plans, with the president setting performance standards for these agencies.
Mortier expressed concerns about the potential consequences of placing all authority under executive power, especially in the context of deregulation, crypto, digital push, and perceived conflicts of interest. He pointed out that this approach could pose a threat to democracy and have a detrimental impact on the trust in the U.S. system, including the U.S. dollar’s global standing.
Although the executive order includes an exemption for the Federal Reserve’s monetary policy functions, concerns have been raised by critics who believe that the order exceeds presidential authority and anticipate legal challenges. Mortier highlighted the risks associated with undermining the independence of the Federal Reserve, particularly in relation to the U.S. dollar and global economic stability.
Furthermore, Mortier emphasized the administration’s focus on the 10-year U.S. government bond yield and its potential impact on global assets. While acknowledging historical conflicts of interest in government, Mortier expressed unease about the current level of challenges being faced.
Despite the exemption for Fed monetary policy, concerns remain about mounting pressure on the central bank. Mortier cautioned against jeopardizing the Fed’s independence, noting the severe consequences it could have on the financial markets and the economy at large.
While Mortier expressed some confidence in current Federal Reserve Chair Jerome Powell’s ability to withstand political pressure, he raised concerns about succession when Powell’s term ends in May 2026. Bezos’ Favorite Real Estate Platform has launched a new way to capitalize on the ongoing private credit boom. Active investors can supercharge their stock market game with the number one “news & everything else” trading tool, Benzinga Pro. For just $0.26 per share and a $1000 minimum investment, users can earn money on their phones through Deloitte’s fastest-growing software company. Don’t miss out on the latest stock analysis from Benzinga for companies like Apple (AAPL) and Tesla (TSLA). An article on Trump’s plan to rein in regulators suggests that it could erode market trust, according to a $2.3 trillion asset manager. This article was originally published on Benzinga.com in 2025. Benzinga does not provide investment advice. All rights reserved.
