Trump fire Fed Governor, e dey undermine Fed independence
President Donald Trump don order say make dem comot Fed Governor Lisa Cook “for cause” sake say she put false mortgage declaration. Cook no gree resign, talk say Trump no get legal power. Legal people dey argue say e no clear under Federal Reserve Act and dem dey warn say e fit spoil Fed independence.
Market react to dis challenge to Fed independence, Bitcoin rise 0.5% and Ethereum up 1.5%, but the whole crypto market fall 1.5% reach $3.86 trillion. Dollar sef weak and Treasury yields high, e dey raise worry about USD-backed stablecoins like USDT, USDC and PYUSD.
Traders suppose dey watch how monetary policy dey change as political wahala fit make Fed weak dollar more and make people want cryptocurrency more. The attack on Fed independence fit make market waka shakier and make Bitcoin fine as long-term store of value.
Bullish
Di forced removal of Fed Governor Lisa Cook na wan happen before wey challenge Fed independence, e dey push short-term price gains for Bitcoin and Ethereum as traders dey find alternatives. Di weak dollar and higher yields dey put pressure on USD-backed stablecoins. For long term, constant political interference fit make people no trust monetary policy again, increase volatility and make demand for crypto as alternative store of value stronger.