Fed Chair Powell Says Trump Can’t Dismiss Him, USD Unmoved
Federal Reserve Chair Jerome Powell stated that President Trump lacks the legal authority to remove him, reaffirming the fixed tenure of Board governors. Fed Chair Powell’s remarks emphasize central bank independence and the continuity of monetary policy decision-making. The USD reacted modestly, trading sideways against major currencies as investors welcomed reduced governance risk. By clarifying procedural norms, Powell bolsters market confidence in predictable interest-rate strategy and macroeconomic guidance. Traders should note that diminished policy uncertainty may support stable USD performance and shape future perceptions of Federal Reserve policy.
Neutral
Powell’s reaffirmation of Fed independence reduces policy uncertainty and leaves the USD largely unchanged. Similar historical clarifications—such as the 2018 Fed leadership debates—also led to limited market volatility. For crypto traders, stable USD conditions and clear central bank governance present no immediate catalyst for bullish or bearish moves. In the short term, reduced policy risk may keep trading ranges narrow; over the long term, predictable monetary policy supports market stability but does not directly drive crypto prices.