Trump Wants Powell Out: Is Crypto Crisis Next?
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Key Notes Trump has called for Fed Chair Jerome Powell’s immediate resignation, accusing him of political bias and rate cut delays. Political pressure on the Fed is shaking investor confidence and raising concerns about central bank independence. With inflation falling and rate cut speculation rising, Bitcoin may benefit from economic uncertainty. President Donald Trump has called for Fed Chair Jerome Powell’s immediate resignation, sparking fears of a broader financial storm, the effects of which could seep into the digital asset space. 🚨 BREAKING: President Trump DEMANDS Jerome Powell “RESIGN IMMEDIATELY” as Fed Chair and says Congress should INVESTIGATE him. “Too late! He’s always late! But he wasn’t late with Biden before the election, he was cutting [rates] like crazy.” “He was trying to get them in.” pic.twitter.com/7kFjoRCXei — Eric Daugherty (@EricLDaugh) July 8, 2025 Trump vs. Powell Trump has long criticized Powell for being “too slow” to cut interest rates, but his latest demand, pushed via social media and press conferences, establishes a new level of confrontation. He accused Powell of favoring the Biden administration with rate cuts and now dragging his feet despite clear signs of easing inflation. Trump’s comments come amid growing political scrutiny of Powell’s leadership, including calls for a congressional investigation over potentially misleading Senate testimony regarding a $2.5 billion Fed headquarters renovation. The US President claims that Powell’s reluctance to lower interest rates has “cost the US economy dearly.” Trump has also floated potential replacements who share his deregulatory and low-interest-rate ethos, such as Michelle Bowman and Kevin Hassett, names that have raised eyebrows among economists concerned about Fed independence. 🚨 BREAKING: President Trump just went off on “low IQ” “terrible” Fed Chair Jerome Powell. “I think he’s a very stupid person, actually.” “For YEARS we’re gonna be paying for him! […] We’re gonna end…
Filed under: News - @ July 9, 2025 9:26 am