My lovely people! What's up, friends! I have some hot gossip that is making waves in the corridors of power. It turns out that President Donald Trump is fired up and dropped a bomb: he wants Jerome Powell, the head of the Federal Reserve (the Fed), to resign right now if it is discovered that he was lying in Congress! Can you imagine the situation! 🤯
This is not new, they already know that Trump doesn't think very highly of Powell, he has criticized him a lot for keeping interest rates so high, as if they had some glue that won't let them go down! 📈 But now things have gotten spicier because it seems there is an issue with the renewal of the Fed's headquarters, a project that is costing an arm and a leg and more! 💸
The gossip is that Bill Pulte, a big shot from the Federal Housing Finance Agency, came out saying that Powell's testimony about those renovations was more tangled than a pair of headphones. He accused him of being misleading and demanded that Congress get its act together and investigate him! 🕵️♀️ And of course, Trump, who doesn't waste time, gave all his support to Pulte on social media and went back to insisting on Powell's resignation.
Trump insists that Powell was a 'terrible choice' and that he needs someone who will actually take action and lower those interest rates so that the economy can move forward. The man already has a list of three to four possible replacements for when Powell's contract ends in May 2026. It seems he wants someone who will listen to him and get the money circulating! 🤑
But wait, the drama has more chapters. While Powell's chair shakes, names are already being mentioned for the replacement. One that is being heard is that of Scott Bessent, the Secretary of the Treasury. But he appeared on Fox Business saying, 'I am happy with my job, interacting with the president, this is a dream!'. Although be careful, he didn't say no, just that he will go 'where the president thinks I am better qualified'. So stay alert with that! 👀
This move by Trump, calling for investigations and talking about deception, shows that he is not playing around. He wants to leave his mark on the Federal Reserve before it's too late. So, what do you think will happen? Will Powell withstand the pressure or will we have a new boss at the Fed? Time will tell, my people! Stay informed!$ETH $BNB $ATOM
