Trump Blasts Jerome Powell as ’Terrible’ Amid $2.5B Fed Firestorm—Crypto Watchers Smirk

Former President Donald Trump just threw gasoline on the Fed’s $2.5 billion controversy—and crypto traders are loving the drama.

Powell in the Crosshairs

Trump slammed Fed Chair Jerome Powell in a fiery broadside, calling his leadership 'terrible' as whispers of monetary mismanagement grow louder. The timing? Suspiciously convenient for Bitcoin maximalists.

The $2.5B Question

While Trump didn’t specify which Fed decision sparked his rage, the $2.5 billion figure floating around suggests this isn’t just about rate hikes. Maybe Powell should’ve bought Bitcoin instead.

Crypto’s Ironic Win

Every time DC and the Fed feud, decentralized assets smirk. Gold bugs and crypto anarchists are already drafting 'I told you so' tweets—because nothing says 'sound money' like politicians and bankers at each other’s throats.

U.S. President Donald TRUMP has called for Federal Reserve Chair Jerome Powell to resign if the allegations against him prove to be true. Powell has been accused of misleading lawmakers about the cost of expensive renovations at the Fed’s headquarters and of failing to cut interest rates in recent months.

Trump Urges Jerome Powell to Resign As Fed’s Chair 

On Tuesday, during a cabinet meeting, President Trump said that Jerome Powell’s reluctance to cut interest rates has cost the country billions of dollars, urging him to resign immediately. The president is now considering a shortlist of potential replacements for the Fed Chair.

Moreover, Trump accused the Federal Reserve of bias in its policy decisions and criticized it for keeping interest rates unchanged. In response, Powell has blamed Trump’s tariffs for fueling inflation concerns.

The president added– “I think he’s terrible.” 

Congress investigates Powell’s Allegations 

Jerome Powell has been accused of giving misleading testimony to members of the Senate Banking Committee regarding a $2.5 billion renovation of the Federal Reserve’s headquarters. 

If the allegations are proven true that he deceived Congress about the renovation costs, “then he should resign immediately,” Trump said. “We should get somebody in there who’s going to lower interest rates.” 

The allegations gained further credibility after FHFA Director Bill Pulte and Senator Cynthia Lummis claimed that the Fed lied under oath and misled authorities. As a result, Powell may face a congressional investigation in July.

Trump’s Shortlist of Fed Contenders 

• Treasury Secretary Scott Bessent: Known for his role in easing U.S.–China tensions, Bessent is considered a trusted figure within the cabinet. He has stated that he is ready to serve wherever the president deems appropriate.
  
• Kevin Hassett: Currently serving as Director of the White House’s National Economic Council, Hassett is another contender. He has consistently supported Trump’s economic policies on trade and taxation.
  
• Michelle Bowman: The Federal Reserve’s Vice Chair for Supervision, Bowman would become the second woman to lead the Fed after Janet Yellen if confirmed by Congress.