A political leader demanding questionable policy from the central bank and testing the legal limits to get it - to Martin Redrado, sitting in Argentina, Donald Trump's stand-off with the Federal Reserve feels surprisingly familiar.
Redrado was fired as head of Argentina's central bank in 2010, after he resisted orders by then-President Cristina Kirchner to hand over reserves to help pay off national debts.
He fought the decision successfully in court, but eventually resigned in the face of what he told the BBC was intolerable pressure.
Today, the clash is remembered as one of the early warnings of the economic turmoil that later engulfed Argentina, exposing it to high inflation and a currency plunge from which the country is still recovering.
Trump's fight with the Fed has sparked debate about whether the US might be heading in a similar direction.
Since his return to office last year, Trump has accused the chair of the US central bank, Jerome Powell, of mishandling the economy and driving up debt costs for the government by keeping interest rates too high.
But his interventions at the bank have not been limited to social media complaints.
In August, Trump moved to sack a top policymaker, Lisa Cook, a decision now being challenged at the Supreme Court.
Then on Sunday, Powell said the Fed was facing a criminal probe from the Department of Justice, relating to cost overruns at a property renovation - concerns that Powell has dismissed as pretext.
Market reaction to the drama has remained muted, which analysts said was a sign that investors expect the bank to be able to continue operating freely.
But that faith will be tested in the coming weeks, when the Supreme Court is due to hear arguments about Cook's firing and the president is expected to announce his pick to replace Powell, whose term as Fed chair ends in May.
Redrado said he has been surprised to see echoes of his own battle happening in the US, long held up as a global model.
This seems more like an emerging market story, he said.
He is not alone in making the comparison.
This is what you do in banana republics, not what should happen in the United States of America, economist Jason Furman, who led former President Barack Obama's Council of Economic Advisers, told the BBC.
In an interview with CNBC, former Fed chair Janet Yellen warned against Trump’s intervention, stating it was leading down the path toward a banana republic.
Trump has remained defiant in the face of calls to limit his interference with the bank, which has vast financial reserves and the ability to influence borrowing costs across an economy.
He has denied involvement in the criminal probe, asserting he has a right to express his views on the Fed’s operations.
Elected officials must balance their desires for political gain against long-term economic health, and economists warn that Trump's actions could destabilize the economy.
Yet, for now, U.S. inflation expectations remain contained, suggesting that the immediate significance of the current struggle is more political than economic.
However, analysts remain vigilant, with some indicating that this political battle could become inflationary if allowed to escalate.
Though analysts assert that the U.S. economy may withstand these pressures better than smaller nations, indicators of impact are emerging. For instance, there has been an 8% drop in the dollar's value against multiple currencies over the past year.
The overall conclusion suggests that although the Fed maintains a robust structure, the ongoing friction could have unforeseen consequences, potentially disrupting the long-held tradition of central bank independence in the U.S.
President Trump is really defeating himself by having this kind of fight, Redrado warned. He should know better.
