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US President Donald Trump explores legal possibilities to remove Fed Chair Jerome Powell from office, citing “lack of urgency.” Trump has criticized Powell for obstructing the economic growth of the country, claiming he is “too late and wrong.” US President Donald Trump has openly suggested that he may remove Jerome Powell from his position as the Federal Reserve chair, escalating the existing tension between them. This latest outburst fueled Bitcoin (BTC )’s surge from its daily low of $83k to $85k. At press time, the asset had marginally declined to $84k, printing a 0.48% loss on its daily price chart. How it All Started On April 16, Powell disclosed in a speech at the Economic Club of Chicago that the tariff policies of the present administration complicate the goal of the Central Bank. According to him, the Federal Reserve has the responsibility to deliver on its dual mandate, which is managing inflation and employment. However, it has to critically assess the impact of trade tensions on these mandates and look at the timeframe over which this could be resolved. Meanwhile, Trump has consistently called for an interest rate cut as he claims it is important for economic growth. Saying it all on his social media platform, Truth Social, Trump hit out at Powell, claiming he is “too late and wrong.” According to him, Powell disrupts economic growth with his decisions. Comparing his approach to the European Central Bank (ECB), Trump highlighted a lack of urgency, which could delay progress. Meanwhile, the Bank of America (BOA) has forecast four rate cuts this year, as discussed earlier. Source: Donald Trump According to our research, the governing council of the ECB has lowered interest rates by 25 basis points. This implies that the deposit facility, main “refinancing operations, and the marginal lending facility…

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Filed under: News - @ April 18, 2025 12:28 pm