It is well known that Donald Trump hates Jerome Powell, the chairman of the US Central Bank. According to Trump, Powell is an “idiot” and he should have started reducing interest rates much earlier. In the meantime it seems to be so high that a resignation of Powell can no longer be excluded.
Dismissal Powell matter of time
If we can believe Congressman Anna Paulina Luna, then the resignation of Powell is even on hands, and therefore a matter of time.
Furthermore, Luna did not give any details, so we stay in uncertainty about the actual status of Powell at the Central Bank. On Polymarket they did not take Luna’s words completely seriously, but we saw an increase of 4 percent on the contract that is about Powell’s resignation.
In the meantime, that percentage has already fallen to 24 percent. The market therefore sees a quarter of a chance to dismiss Powell by Trump. Incidentally, Luna is not in the House Financial Services Committee, which is responsible for supervision of the US Central Bank.
Bitcoin does not respond
The chance that Powell will actually be fired is of course very small. Trump has no good reasons for that, and Powell’s period also ends in May 2026. For a long time, Trump no longer has to do with Powell, who, according to most people, has done fantastic.
Being chairman of the US Central Bank is not easy, and Powell has filled that role with verve. Of course he has made mistakes, but under the line he gets a more than enough for his work.
That also makes it unlikely that Trump can convince a judge that Powell should be fired. If that does happen, it will turn out well for Bitcoin, because Trump will come up with someone who will listen to him.
Which means that a chairman comes to the US central bank that is mainly for interest rate letings.
Source: https://newsbit.nl/geruchten-over-vertrek-powell-zwellen-aan-ontslag-lijkt-op-handen/
