Trump Urges Powell’s Resignation Amid Congress Allegations

Donald Trump calls for Jerome Powell’s resignation over allegations of misleading Congress regarding Federal Reserve renovations, urging immediate action.

This situation may impact US monetary policy, with market uncertainties affecting crypto assets.

Trump Accuses Powell of Misleading Congress

Donald Trump, former US President, has publicly called for Federal Reserve Chair Jerome Powell to resign if accusations of misleading Congress are true. The allegations pertain to renovations at the Fed’s headquarters.

Trump, who appointed Powell during his presidency, has criticized his handling of interest rates. If found misleading, Trump insists Powell should step down immediately, highlighting concerns over current monetary policies. Trump stated, “If he misled Congress, he should resign immediately.”

Market Reactions and Possible Volatility

Trump’s remarks may prompt discussions within political and financial circles about US monetary policy. Interest rate decisions are in sharper focus due to Trump’s previous critiques.

The crypto market, particularly BTC and ETH, may see increased volatility. Political pressure on the Fed could influence broader market sentiment and economic policies.

Past Conflicts Between Trump and Powell

Trump has critiqued Powell in the past, causing volatility in USD markets and crypto assets. Historically, such conflicts have led to temporary market adjustments rather than lasting impacts.

Current data suggests potential volatility may persist. Interest rate-sensitive markets should keep an eye on developments, though no immediate regulatory changes are noted.