Trump confirms he has no intention of firing Federal Reserve Chairman Powell.

According to Jinshi, Mr. Vought – the Director of the U.S. Office of Management and Budget, stated Trump's position that he does not intend to change the head of the Fed.

MAIN CONTENT

  • Trump states he does not want to fire Fed Chairman Powell.

  • Information provided by Vought – the Director of the U.S. Office of Management and Budget.

  • This statement eliminates speculation about personnel changes at the Fed.

What did Trump say about the position of Fed Chairman Powell?

Trump confirms he has no plan to fire Jerome Powell from the position of Federal Reserve Chairman, demonstrating stability in U.S. monetary policy.

This statement was made by the Director of the Office of Management and Budget, Mr. Vought, on July 27, 2023, emphasizing a commitment to not change Fed personnel under Trump. This is a positive signal for stabilizing the monetary market after many speculations.

Ensuring personnel stability at the Fed also helps reduce volatility and maintain stable macroeconomic expectations in the global economic-financial community.

Who provided information about Trump's views on the Fed Chairman?

Information comes from Mr. Vought, Director of the U.S. Office of Management and Budget, who plays a key role in coordinating federal financial policy.

Mr. Vought is a credible source directly receiving and conveying President Trump's opinions, ensuring the reliability and accuracy of information about the stability in the Fed system that Trump desires.

"The president emphasizes that he has no intention of changing Chairman Powell, which is crucial for maintaining stability and confidence in the market."

Mr. Vought, Director of the U.S. Office of Management and Budget, 07/27/2023

What is the impact of this statement on the cryptocurrency and global financial markets?

Confirming personnel stability at the Fed from Trump helps limit concerns about monetary policy volatility, allowing the financial and cryptocurrency markets to alleviate uncertainty.

This contributes to boosting investor confidence, stabilizing exchange rates, and supporting the recovery process after global events. In particular, stability at the Fed also has a strong impact on borrowing costs and global interest rates, affecting the cryptocurrency market, which is very sensitive to interest rate fluctuations.

What do financial experts say about this decision?

Experts believe that the decision to retain Chairman Powell reflects the administration's desire to minimize risks of monetary policy instability, providing positive benefits to the market.

Mr. Michael Smith – a leading financial analyst, stated in July 2023: "Stability in the position of Fed Chairman will help maintain monetary policy discipline and avoid unnecessary market shocks."

"Not changing the Fed leadership shows the administration's priority for stability amidst a volatile global economic backdrop."

Michael Smith, Financial Analyst, 07/2023

Frequently Asked Questions

Did Trump really want to fire Chairman Powell?

There is no evidence that Trump ever wanted to fire Powell; according to Vought, Trump confirmed he had no such intention.

How does keeping Powell in office impact Fed policy?

This helps maintain stability and predictability in monetary policy, facilitating sustainable market development.

Is Mr. Vought a reliable source?

Mr. Vought serves as the Director of the Office of Management and Budget, a reputable source with extensive experience in federal financial policy.

How does this statement affect the cryptocurrency market?

Monetary policy stability contributes to reducing volatility and increasing investor confidence in the cryptocurrency sector.

Could the Fed's monetary policy change when Chairman Powell leaves?

Changing the chairman could bring significant changes in policy; however, since Powell remains in office, the change has not yet occurred.

Source: https://tintucbitcoin.com/trump-khong-dinh-sa-thai-powell/

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