Powell dey defend Fed independence as Yellen dey caution Trump
Former President Trump don pressure again about Federal Reserve headquarters renovation budget, e make dem talk say dem go remove Chair Jerome Powell. Treasury Secretary Janet Yellen warn Trump make e no sack Powell because e fit make Fed lose im independence and shake market.
Powell respond say e go hold ground for Fed independence and legal protection. E go finish im term May 2026 and fit still dey Board of Governors till January 2028. Yellen still dey check who fit succeed am and suggest make Powell resign from board when e dey resign from chair to avoid wahala for governance.
For crypto traders, Fed independence mean say policy go remain data-driven, e no go quick cut rate. Limited money go fit weigh down Bitcoin and other risk asset for short term. Traders suppose dey watch Fed talk well for guide on interest rates path and market stability.
Bearish
Di reaffirmation of Fed independence and Yellen protective stance show say monetary policy dey careful and dey based on data, with low chances say dem go cut rates soon. This tightening of liquidity fit slow short-term upward movement for Bitcoin and altcoins, put pressure for risk assets. For long term, strong Fed trust fit hold steady confidence, but if rates stay high or dem take conservative approach, e fit limit big crypto rallies. Traders wey depend on liquidity expansion go find less bullish catalysts, leading to overall bearish outlook.