Federal Reserve’s Jerome Powell defends central bank independence amid Trump pressure
Crypto Briefing
Jerome Powell is resisting political pressure from Donald Trump by remaining on the Federal Reserve board, highlighting significant risks for global financial markets.Summary
Federal Reserve Chair Jerome Powell has pledged to remain on the central bank's Board of Governors until at least 2028, effectively challenging President Donald Trump’s efforts to exert control over monetary policy. This standoff, which includes a Supreme Court case regarding the dismissal of Fed officials, centers on protecting the institution's independence from political interference. Analysts warn that if this autonomy is compromised, it could lead to increased inflation and market volatility. The conflict has already influenced the crypto sector, with investors turning to assets like Bitcoin as a hedge against the instability affecting the world's primary reserve currency.
(Source：Crypto Briefing)