Bitcoin (BTC) 
$59,328 price surged past $85,200 following Trump’s declaration of discontent with Powell. While this seems promising in the short-term, it may not bode well for cryptocurrencies in the medium and long-term. As of the writing of this article, Trump is making statements following a meeting with Italy’s Prime Minister.
Trump and Powell
The Treasury Secretary has consistently stated that Trump’s comments, like “lower rates, Trump,” should be interpreted as market commentary rather than concrete proposals. However, the ongoing remarks from Trump provide little reassurance.
“If I want, Powell can leave. I don’t believe Powell can do this job. I’m not satisfied with Powell.
Countries want to make deals more than I do. We have a mineral deal. The mining agreement will be signed next Thursday.
Powell is always slow and late.
Nvidia’s Huang is my friend. I’m not worried about Huang from Nvidia.
Interest rates have risen. Powell is making policies. Interest rates need to drop now. Federal Reserve members are not very smart people. Powell is a terrible person.”
Although BTC prices are rising, legally, the Fed Chairman cannot be dismissed by the President. Trump may attempt to remove him before his term ends in 2026, but he would face legal battles in the courts, resulting in a troubling economic scenario. Trust in the U.S. Federal Reserve would significantly diminish, complicating any recovery efforts.
U.S. Treasury Secretary Bessent remarked, “Discussions with Japan are progressing in a highly satisfactory direction,” adding that agreements with 15 major economies have reached significant levels.
