White House Responds to Powell Resignation Rumors Amid Market Speculation
Rumors of Federal Reserve Chair Jerome Powell's potential resignation sparked market intrigue on Friday, with the White House issuing its first statement on the matter. The head of the U.S. Federal Housing Finance Agency (FHFA) added fuel to the speculation, expressing support for Powell's departure. Investors are weighing the implications for monetary policy, particularly as former President Donald TRUMP has repeatedly criticized Powell and called for rate cuts.
White House Economic Advisor Kevin Hassett confirmed Trump's authority to remove Powell "for cause," while also highlighting ongoing trade negotiations. The uncertainty comes at a delicate time for crypto markets, which are sensitive to shifts in Fed leadership and interest rate policy.
