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What would happen to cryptocurrency if Trump took over the Federal Reserve? Trump threatens to fire Fed Chair Powell!

Recently, the focus of the American political arena and financial markets has centered on an unprecedented power struggle—President Trump openly threatened to fire Federal Reserve Chair Jerome Powell, citing his "refusal to cut interest rates hampering economic growth." This conflict over the autonomy of monetary policy not only challenges the 70-year tradition of the Federal Reserve's independence but also prompts deep reflection on global financial stability and the direction of the cryptocurrency market: when the Federal Reserve may become a political tool, will cryptocurrencies like Bitcoin become a new "safe haven," or will they fall into greater uncertainty?

Powell was nominated as Fed Chair during Trump's term in 2018, and at that time, their relationship was amicable. However, as the Fed continued to raise interest rates between 2018 and 2019 to curb inflation, Trump began to frequently criticize Powell's policies as "hindering economic growth." He has publicly stated: "The Federal Reserve is my biggest threat" and "They are raising rates too quickly and lowering them too slowly."