Former President Donald Trump has once again called for the resignation of Federal Reserve Chair Jerome Powell, pointing to significant disagreements in their approaches to monetary policy.
Call for Powell's Resignation
Trump criticized Powell on Truth Social, calling him unfit for the position and reiterating his demand for change. He noted their differing approaches to interest rates, emphasizing that Powell, appointed by Trump, does not align with his economic goals.
Political Tensions and Market Impact
The situation highlights tensions between political interests and the central bank, raising questions about the Fed's independence. It is unclear how this will impact market stability, particularly given Powell's term ends in 2026. Trump cannot fire him but continues to criticize the current policy.
Outlook for Cryptocurrencies
Uncertainty remains for cryptocurrencies like BTC and ETH, which are sensitive to interest rate changes. While the immediate impact on the crypto market is minimal, potential shifts in Fed policy due to these conflicts could lead to significant consequences.
The increasing tension between the former president and the Fed chair raises concerns about the future of monetary policy and its impact on financial markets.
