š±Trump vs. Powell: A Clash That Could Rattle Global Marketsā
Donald Trump is once again taking aim at Federal Reserve Chair Jerome Powell ā and this time, he might actually follow through. The White House has confirmed that firing Powell is now a real possibility, setting the stage for a political showdown with major implications for global markets.
Kevin Hassett, head of the National Economic Council, confirmed the administration is weighing its options:
āThe president and his team will continue to study that matter.ā
This comes on the heels of Trumpās blunt remarks:
āIām not happy with him. I let him know it ā and if I want him out, heāll be out real fast, believe me.ā
Ironically, Trump appointed Powell himself. But the relationship soured after Powell raised interest rates, resisted pressure from the White House, and warned that Trumpās trade policies could harm the economy. Trump wanted rate cuts ā and fast ā but Powell didnāt budge.
Can Trump Actually Fire Powell?
Itās complicated. Fed governors serve 14-year terms and can only be removed āfor cause,ā meaning misconduct or negligence. Still, Trumpās legal team is testing the boundaries. A Supreme Court ruling could soon reshape presidential authority, potentially making Powellās position vulnerable.
Whatās at Risk?
Treasury Secretary Scott Bessent has reportedly warned that removing Powell could spark financial instability. Even so, Trump has been exploring replacements in private meetings ā including with former Fed governor Kevin Warsh ā despite internal resistance.
Why Binance Traders Should Care
This isnāt just political drama ā it could significantly sway interest rate policy, market sentiment, and volatility. Key points to watch:
Fed independence is under threat
The future of USD strength and rate decisions is uncertain
Market turmoil could spike if Powell is ousted
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