Donald Trump publicly criticized Fed Chair Jerome Powell, demanding his resignation amid allegations of financial misconduct.
Trump's Call for Powell's Resignation
Donald Trump expressed his criticism of Jerome Powell on Truth Social, demanding his resignation. The allegations center around supposed financial misconduct related to the Federal Reserve's headquarters renovation project.
Allegations and Request for Investigation
Bill Pulte, Director of the Federal Housing Finance Agency, has also called for Congressional investigation regarding Powell. The accusations concern $2.5 billion allocated for the renovation project; however, official sources have not corroborated claims of fraud. Powell continues to defend his actions, emphasizing the stringent oversight by Congress.
Cryptocurrency Market Stability
Despite political tensions, the cryptocurrency market, including Bitcoin and Ethereum, has remained stable. Bitcoin is trading at $113,539.74 with a market capitalization of $2.2 trillion. Analysis shows that recent allegations have not had a significant impact on market trends.
Political scrutiny of Federal Reserve leadership has rarely led to noticeable market fluctuations without corresponding policy changes. Attention to the Fed's actions will continue to inform market dynamics.
