Trump vs. Powell: Why Crypto Investors Should Pay Attention?
The 2024 U.S. election could mark a pivotal moment for financial markets, and crypto is no exception. At the center of this political-economic spotlight are two power figures: Donald Trump, the former president and 2024 Republican frontrunner, and Jerome Powell, the current Federal Reserve Chair.
Trump has publicly criticized Powell’s hawkish monetary stance, suggesting he would not reappoint him if re-elected. Why does this matter to crypto? Because Powell’s Fed has been aggressively tightening interest rates to combat inflation—pressure that’s historically pulled liquidity away from risk-on assets like Bitcoin and altcoins.
If Trump returns to office, we could see policy shifts that favor looser monetary conditions, potentially boosting crypto markets. Trump has also been increasingly vocal about crypto in 2024, even accepting crypto donations—a big contrast from his earlier skepticism.
Markets move on narratives. And in this brewing clash between Trump and Powell, the future of U.S. monetary policy—and crypto's next big rally—could hang in the balance.
