President Trump is considering announcing his choice for a new chairman of the US Central Bank faster than usual. According to Zakenkrant The Wall Street Journal, several names are already circulating in Washington, where preference seems to go to candidates who want to lower interest rates, and that is good for Bitcoin.
Candidates under the microscope
One of the prominent names is Kevin Warssh, former Governor of the Federal Reserve. He spoke with Trump about the position before. Warssh is known for his sharp eye for inflation risks, but could be too obstinate, according to insiders.
Kevin Hassett, director of the National Economic Council, has also been mentioned. However, he has indicated that he is not interested internally.
Another striking name is Scott Bessent, currently Minister of Finance. Although he has publicly promised to serve his term, people in his environment say that he is enthusiastic about the opportunity to lead the Fed.
Former World Bank President David Malpass is also mentioned. Malpass supports lower interest rates, something Trump traditionally welcomes. Yet Trump is said to have doubts whether Malpass is sufficient television gaps for the role.
Finally, there is Christopher Waller, member of the board of the Fed. He was nominated by Trump himself in the past, but seems to be an outsider because the personal bond between the two is limited.
Who are interesting for Bitcoin?
For Bitcoin investors, the possible appointment of Malpass is the most interesting. Malpass has previously expressed itself positively about a smooth monetary policy, which is historically beneficial for alternative assets such as Bitcoin. A chairman who lowers interest rates can increase the pressure on the dollar and thus strengthen the attractiveness of Bitcoin.
With the elections approaching, it is likely that Trump wants to show that he is taking back control of economic policy, with possibly major consequences for financial markets worldwide.
Source: https://newsbit.nl/trump-zoekt-nieuwe-fed-voorzitter-deze-namen-circuleren-in-washington/
