#TrumpVsPowell

Latest news about cryptocurrencies

Bitcoin has stabilized below the $85,000 level during the past hours of trading on Friday, amid rising tensions between U.S. President Donald Trump and Federal Reserve Chairman Jerome Powell, adding a new layer of uncertainty for investors.

Markets saw a decline on Wednesday following hawkish comments from Powell, who criticized Trump's tariff policy, warning that it could lead to an economic slowdown and rising prices, a situation economically known as "stagflation." Powell clarified in his speech that his primary focus is currently on prices, indicating a shift towards a more hawkish monetary policy than previously expected.

Trump, who nominated Powell to head the Federal Reserve during his first term (and was later reappointed by President Biden for a second four-year term), has expressed his dissatisfaction with Powell since returning to the White House. However, Powell, who will remain in his position until May 2026, has repeatedly affirmed his intention to complete his term, indicating that the president does not have a legal basis.