President Trump's draft letter to fire Fed Chair Jerome Powell has intensified speculation in the crypto markets, highlighting potential shifts in monetary policy.
President Trump revealed a draft letter indicating his intent to fire Fed Chair Jerome Powell during a meeting focused on crypto legislation. This revelation has spurred speculation in the crypto markets, with prediction-market odds of Powell's ouster rising to 26 percent. Trump's recent criticisms of Powell over interest rate policies and the Fed's renovation project have fueled discussions about potential impacts on digital asset prices. While Bitcoin remains below its record high, analysts suggest that a leadership change could create a bullish environment for cryptocurrencies.