$BTC Trump announces the imminent appointment of a new Federal Reserve Chair: Will the trajectory of U.S. monetary policy change?
šÆļøšØIn a recent statement, U.S. President Donald Trump announced that the decision to appoint a new Federal Reserve Chair will be made soon. He indicated that Kevin Warsh, a former member of the Federal Reserve Board of Governors, is considered one of the top candidates for this position.
š Background of tension: Trump has heavily criticized the current Federal Reserve Chair, Jerome Powell, for what he described as a delay in lowering interest rates. Trump has called for an immediate reduction of 1%, arguing that the current policy hinders economic growth and puts the U.S. at a competitive disadvantage compared to other countries like China.
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š Potential impact on markets: Trump's announcement led to a rise in U.S. stock indices, as investors hope that the appointment of a new Chair will lead to more accommodative monetary policies, which could support economic growth and affect the value of the dollar and cryptocurrency markets.
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š§ What does this mean for investors? A change in Federal Reserve leadership could indicate a shift in U.S. monetary policy, prompting investors to closely monitor developments, especially regarding interest rates, inflation, and their impact on global markets.
Could the crypto market be affected after the appointment of a new Federal Reserve Chair?
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š Trusted sources review:
Reuters
Yahoo Finance
