Trump Nears Fed Chair Selection After Completing Interviews - Crypto Markets Brace for Impact
Washington's favorite parlor game just got real. The Fed chair interviews are done, and Trump's pick is imminent. This isn't just about interest rates anymore—it's about the future of money itself.
The Crypto Angle Wall Street Misses
Forget traditional finance's hand-wringing over inflation targets. The real action is in the digital asset space. A dovish Fed chair under Trump could unleash a liquidity tsunami straight into Bitcoin and Ethereum. We've seen this movie before: easy money flows to the hardest assets first.
Decentralization's Ultimate Test
Here's the beautiful irony. While D.C. obsesses over one person's appointment, thousands of decentralized nodes keep validating transactions 24/7. No interviews needed. No political favors. Just code and consensus—the ultimate check on centralized power.
The Institutional Floodgates
Watch the institutional pipelines. A Trump-aligned Fed could fast-track regulatory clarity that's been stuck in bureaucratic purgatory. When traditional finance finally gets the green light, the capital inflow will make current volumes look like a test net.
One cynical truth? The same banks lobbying against crypto will be first in line for the ETF approvals. The revolution gets institutionalized, fees get extracted, and the cycle continues. But the protocol doesn't care—it just keeps running.
The chair selection matters. But the blockchain? It's already on the next block.
Trump affirms having the best fit for the Fed chair position once Powell’s term ends
Concerning Kevin Hassett, sources with knowledge of the situation mentioned that Trump recently affirmed that he is an ideal candidate for the Fed chair role. However, after several considerations, the president now appears likely to retain him in his position at the WHITE House.
These sources sought to explain the sudden shift in decision-making, noting that Trump quietly expressed dissatisfaction with his choices. Meanwhile, it is worth noting that Trump has openly condemned Powell, frequently saying that the Fed chair was too slow to implement rate cuts. With the new Fed chair, the US president alleged that this approach will come to an end.
During an interview on Wednesday, January 21, Trump provided unclear details about the number of candidates still under consideration for the role.
Nonetheless, the United States Secretary of the Treasury, Scott Bessent, who was assigned to manage the selection process, disclosed that there are four candidates on the shortlist. Moreover, Scott projected that Trump might reveal his preferred choice before the end of this month.
In a statement released on Wednesday this week, the president mentioned that, “I’d say we’re down to three candidates, but really it’s more like two. In my mind, we might have one.”
Trump expresses disapproval of Powell’s role as the Fed chair
The Trump administration accelerated its efforts to undermine Powell earlier this month. In this move, the administration issued subpoenas indicating a potential criminal investigation into the Federal Reserve’s renovations of its Washington-based headquarters.
Responding to these claims, Powell described this investigation as an attempt to get back at him for refusing to reduce interest rates swiftly enough. In the meantime, sources confirmed that the Fed chair can continue to serve on the Fed board until 2028, even if his term terminates in May.
However, the potential legal battle has fueled speculation that Powell may choose to stay even after his term as Fed chair concludes.
This speculation drew the attention of reporters who asked Trump whether news that Powell might decide to stay at the Fed worried him. In response, Trump stressed that he was not bothered, adding that he will wait to see what unfolds. Still, the president insisted that Powell is slow to make decisions, even as interest rates are dropping.
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