The market's expectation of achieving interest rate cuts through Powell's dismissal has completely shattered.
At the event on May 5, Trump clearly expressed his attitude towards Powell for the first time. When asked if he would 'fire' Powell before 2026, he replied with three 'no's and countered with, 'Why would I do that?' He further explained that he could be patient, as Powell's term would soon come to an end, and a replacement could naturally be found then. From this statement, it is evident that at least in the short term, the market's expectation of achieving interest rate cuts through Powell's dismissal has completely shattered. $BTC