President Donald Trump has stated he will keep Jerome Powell as chairman of the Federal Reserve. This announcement, made amid leadership uncertainties, may have a positive effect on financial markets.
Trump's Support for Powell
In a report by Jinshi, Trump confirmed he does not plan to fire Powell, who has been in his position since 2018. This statement is significant as it draws attention to stability in the Fed’s leadership, which historically impacts investor confidence and market stability.
> Donald Trump, Former U.S. President - "I am not going to fire Jerome Powell."
Impact on Financial Markets
Trump's assurance may alleviate investor concerns often tied to changes in the central bank's leadership. Continuity in the Fed's management is seen as a positive factor in maintaining financial stability, which may lead to reduced market volatility.
Current State of Cryptocurrency Market
As of July 13, 2025, Bitcoin is priced at $117,653.55, with a market capitalization of $2,340,313,593,445.72. Bitcoin commands a 63.80% market dominance and has seen a 0.70% increase in price over the last 24 hours. The data also reflects an 8.82% rise over the past week and a 38.62% increase over the last 90 days. Discussions in the cryptocurrency market emphasize the importance of central bank confidence as a component of market stability.
Trump's statement supporting Powell highlights the importance of stability in the Federal Reserve's leadership. Powell’s continuity may contribute to a calmer situation in financial and cryptocurrency markets.
