Binance Square

特朗普决战美联储

3,204 views
2 Discussing
磊哥说币
--
See original
Trump vs. Powell: The Battle on Wall Street, Crypto Night of Revelry Approaches!Trump calls Powell a fool and has repeatedly demanded rate cuts without success, now resorting to verbal attacks. Trump wants the interest rate to drop to around 1%, while it is currently at 4.50%, with each additional point costing an extra 36 million dollars. Powell stated he will not resign and will serve until the end of his term next year. Trump may want to fire the Federal Reserve Chairman but lacks the authority. On July 16, Trump did consider removing Powell and even showed prepared letters to lawmakers, causing a market sell-off across stocks, currencies, and bonds. However, later that day he backtracked, saying he didn’t intend to do so but didn’t rule out any possibilities. There are internal disagreements in the Fed about rate cuts. Governor Waller surprisingly said a 25 basis point cut should occur in July, aligning with Trump's views. However, other officials like Kugler and Williams stated that they should pause rate cuts for a while. Big moves are happening in the crypto space! The U.S. House of Representatives has just passed three major cryptocurrency bills, including a genius bill regulating stablecoins. There are also rumors that Trump plans to sign an executive order allowing 401k retirement plans to invest in cryptocurrencies, gold, and other alternative assets. Interestingly, analysts at JPMorgan believe that whether Powell is fired is no longer important, as the market has already begun pricing in the policies of the next chairman. Regardless of who takes over, the dovish support for loose monetary policy will only grow. The Trump administration accuses the Federal Reserve headquarters of luxurious waste in renovations, to which Powell responded in writing that the project has been under strict supervision since it was approved in 2017.

Trump vs. Powell: The Battle on Wall Street, Crypto Night of Revelry Approaches!

Trump calls Powell a fool and has repeatedly demanded rate cuts without success, now resorting to verbal attacks. Trump wants the interest rate to drop to around 1%, while it is currently at 4.50%, with each additional point costing an extra 36 million dollars. Powell stated he will not resign and will serve until the end of his term next year. Trump may want to fire the Federal Reserve Chairman but lacks the authority. On July 16, Trump did consider removing Powell and even showed prepared letters to lawmakers, causing a market sell-off across stocks, currencies, and bonds. However, later that day he backtracked, saying he didn’t intend to do so but didn’t rule out any possibilities. There are internal disagreements in the Fed about rate cuts. Governor Waller surprisingly said a 25 basis point cut should occur in July, aligning with Trump's views. However, other officials like Kugler and Williams stated that they should pause rate cuts for a while. Big moves are happening in the crypto space! The U.S. House of Representatives has just passed three major cryptocurrency bills, including a genius bill regulating stablecoins. There are also rumors that Trump plans to sign an executive order allowing 401k retirement plans to invest in cryptocurrencies, gold, and other alternative assets. Interestingly, analysts at JPMorgan believe that whether Powell is fired is no longer important, as the market has already begun pricing in the policies of the next chairman. Regardless of who takes over, the dovish support for loose monetary policy will only grow. The Trump administration accuses the Federal Reserve headquarters of luxurious waste in renovations, to which Powell responded in writing that the project has been under strict supervision since it was approved in 2017.
Login to explore more contents
Explore the latest crypto news
⚡️ Be a part of the latests discussions in crypto
💬 Interact with your favorite creators
👍 Enjoy content that interests you
Email / Phone number