Former U.S. President Donald Trump has called for the resignation of Jerome Powell, the Chair of the Federal Reserve, which could change the country's monetary policy.
Call for Powell's Resignation
Trump expressed dissatisfaction with the current monetary policy under Powell. He mentioned he is considering candidates for the new Fed Chair and stated, 'I know who I'm going to pick. I think he goes out pretty soon, fortunately, because I think he's terrible.'
Market Reaction
Following Trump's announcement, financial markets reacted with a decline in U.S. Treasury yields, accompanied by a drop in the U.S. Dollar Index. These movements reflect expectations of a more dovish monetary policy if Powell is replaced.
Impact on Cryptocurrency Market
The cryptocurrency markets may also benefit from a potential change in Fed policy. Historically, a dovish stance has supported growth in both traditional and crypto-assets. Analysts are closely monitoring these developments for their possible impact on assets like Bitcoin and Ethereum.
Trump's call for Jerome Powell's resignation could lead to significant changes in U.S. monetary policy. Financial and crypto markets are closely watching for further developments.
