Trump advisor calls for Powell to resign, which could be good news for Bitcoin
2026-10-05 14:45:37
CoinMeta data: Trump's chief economic advisor, Kevin Hasset, called on former Federal Reserve Chairman Jerome Powell to resign from the Fed's board of directors during a Fox News program, sparking a new debate about the direction of Fed policy. Hasset stated that Powell should "leave" in order to respect the Fed's independence. Trump has also called for Powell to "resign under duress," continuing to exert pressure on him. Powell's position is crucial for Bitcoin, as he is still a member of the Federal Open Market Committee. Powell's departure will create a vacancy for Trump to nominate new members, which will affect future interest rate expectations. Although Powell's resignation may not necessarily lead to an immediate reduction in interest rates, Trump's nomination will influence the Fed's monetary policy. The market's expectation of a rate hike in October has dropped to around 18%, while Bitcoin rebounded after weak non-farm employment data in September, once breaking through $87,000.
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Source:Cryptonews
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