Trump dey eye to replace Fed Chair as rate-cut chance dey high
One sudden resignation for di Federal Reserve don give President Trump chance wey e no expect to fit influence di central bank leadership. For August 1, Fed Governor Adriana Kugler waka comot early, wey make one vacancy before Jerome Powell chair term finish. Di White House, wey Kevin Hassett and Scott Bessent dey lead as economic advisers, dey actively check candidates for new Fed chair and fit soon announce who dem nominate.
Dis shake-up happen as economic data dey weak. Nonfarm payrolls for July just rise by 73,000, way below wetin people expect, and May–June figures dem revise sharply downwards. In response, CME FedWatch show say di chance for September rate cut don jump from 41.3% to 80.3%. Fed officials like John C. Williams admit say job growth dey cool down but dem still talk say labour market dey "firm."
Bestselling author Robert Kiyosaki also talk say Trump fit even dissolve di Federal Reserve to put crypto-friendly monetary policy. Even though legal wahala make am no likely, e show say people dey interested in digital assets as hedge. Crypto traders suppose sabi say di fight for Fed chair succession and di rising expectations for rate cut fit make risk assets like Bitcoin and altcoins get volatility and bullish sentiment.
Bullish
Di Fed personnel shake-up and di sharp increase in chances for September rate cut dey usually good for cryptocurrencies. Lower interest rates reduce di chance cost of holding risk assets, and dem dey often trigger rallies wey liquidity dey drive. History show say Bitcoin and altcoins dey gain ground when Fed pivot signs dey increase for 2019 and early 2020. Short-term, traders fit see more wahala around nomination announcements and economic data. Long-term, continuous easing and any sign say crypto-friendly policies fit make people want digital assets more, as speculative tools and as way to protect against inflation.