The crypto market has crashed, what are you still waiting for?
Trump is now repeatedly hyping the firing of Powell as a definite conspiracy. Legally, he cannot do this directly, but if he really finds a loophole, he can propose a motion. Moreover, starting to hype this repeatedly can help to digest the negative emotions around firing Powell in advance.
Powell's fate is basically sealed; he will meet the same end as the former SEC chairman, both will be removed by Trump. If Bessenet becomes the next Federal Reserve chairman, we might see interest rate cuts this month or in September. A grand celebration is on the horizon.
