Trump don start to choose Fed Chair; NVIDIA H20 as trade tool
President Trump don officially start di Fed chair selection afta Scott Bessent volunteer but dem quick reject am. Trump praise Jerome Powell performance and now e dey favour NEC head Kevin Hassett or ex-Fed governor Kevin Warsh, wey both see as supporters of aggressive rate cuts and flexible interest-rate policy.
For di same time, Treasury Secretary Scott Bessent confirm say lifting di export ban on NVIDIA H20 chips na key trade leverage for US-China negotiations. E expect say talk go focus on market opening, boost domestic consumption and secure more concessions. Bessent also commend di “maximum pressure” tariff strategy, mention deals wit UK, Europe and Japan.
Bessent stress say inflation trend dey more important pass single data points. E reafirm central bank independence and rule out di combination of Fed and Treasury roles.
Dis intersection of Fed chair selection, monetary policy and US-China trade matter fit reshape liquidity and risk appetite, drive volatility for global markets and bring new trading opportunities for cryptocurrency investors.
Bullish
By fast track di Fed chair selection process favor candidates wey dem fit go for sharp rate cuts and flexible interest-rate policy, di administration dey show say dem fit shift go softer monetary policy. Dis kain outlook fit boost liquidity and risk appetite, giving positive momentum for cryptocurrencies. Even though US–China trade talks and tariff plans fit cause some wahala with volatility, di chance of easier monetary conditions and stable inflation trends go support longer-term growth for crypto markets, making dis news generally good for traders.