Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: target on April 18, 2025, 07:49:03 PM
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I was just watching the news about it where so many people talking about Trump trying to fire Jerome Powell. The tariff policy has turned the economy so bad while bonds are being sold from countries holding the debts of US according tot he news.
First he removed Gensler from the SEC and now Powell from FED and speculated that its because the FED is not cutting rates still despite the difficulties in the economy these days. So what do you think will happen if FED chair is replaced? Of will Trump dissolve FED?
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So it seems there is truth that Trump have been increasing all these tariffs with the main goal of cutting interest rates. FED should be an independent body and dissolving it could cause a lot of legal problems for the POTUS. The disagreements between him and Powell is also not enough reason to remove the FED chair.
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I don't think Trump has the constitutional power to dissolve the fed, i don't even think he has the power to fire the fed chairman. Trump did not fire Gensler, he resigned after Trump won the election. I believe we will find out soon enough what Trumps idea is with all this crazy tariffs, it is madness.
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Technically and legally, POTUS could not remove the sitting Chairman of the FED because he is serving a fixed term but he can use his influence to make things difficult for Powell so he can be pressured to let go and resign. Even before Trump assumed office last January there was already this buzz on Powell and principally because he was appointed by the past administration and I think both men don't see eye-to-eye on different matters. I am not sure if Trump can be successful in kicking Powell and I am sure there is going to be some drama in here. Hopefully, Powell is not another Gensler whose stay in SEC really created a negative impact on the cryptocurrency industry.
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I was just watching the news about it where so many people talking about Trump trying to fire Jerome Powell. The tariff policy has turned the economy so bad while bonds are being sold from countries holding the debts of US according tot he news.
First he removed Gensler from the SEC and now Powell from FED and speculated that its because the FED is not cutting rates still despite the difficulties in the economy these days. So what do you think will happen if FED chair is replaced? Of will Trump dissolve FED?
The US has a well organized system of government, it'll not be as easy as kicking a football for Trump because there are laws and regulations guiding and protecting the seating FED chairman.
Though the thoughts of the President is for him to cut down interest rates, but Powell also have his views in all of this and mostly relating it with the tariff war. According to the news I read, it stated that the FED has maintained a 4.25 - 4.5% in interest rate since December undermining the current economic situation of the country.
I don't really have the full knowledge of how it all works there in the U.S. but I guess we just have to wait to see what happens next.
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I don't think Trump has the constitutional power to dissolve the fed, i don't even think he has the power to fire the fed chairman. Trump did not fire Gensler, he resigned after Trump won the election. I believe we will find out soon enough what Trumps idea is with all this crazy tariffs, it is madness.
Yeah, is actually good to know the reasons behind Donald Trump's tarrif war, especially with China. Besides the effects that the current Tarrif war has caused the US and the other countries, there are notable reasons for higher tarrif by a country.
1. Tarrif are imposed for trade sharp practices, or imbalances that might be affecting other country
2. when there are high tarrif, it is meant to protect domestic productions and also it increases government revenue.
3. It is a strategy to negotiate international trades, especially trade competition and deficit. etc
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First he removed Gensler from the SEC and now Powell from FED and speculated that its because the FED is not cutting rates still despite the difficulties in the economy these days. So what do you think will happen if FED chair is replaced? Of will Trump dissolve FED?
Markets will ‘crash’ if Trump has the power to fire Fed’s Powell, Sen. Elizabeth Warren says (https://www.cnbc.com/2025/04/17/markets-will-crash-if-trump-can-fire-feds-powell-elizabeth-warren-warns.html)
the central bank should be independent of politics and if trump gets the power to fire anyone on his own will other institutions might become wobbly the usa would not be far from what a dictatorship would be if trump can just wave his magic wand around
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Of will Trump dissolve FED?
Trump can't dissolve the FED!
As to what will happen, well, if you're outside the US you will not even realize what hit you.
Just as people who lost their homes in 2008 without even knowing what a subprime mortgage was, everyone will be shocked by how inflation will skyrocket again everywhere. The US entering a recession while printing money will be a global disaster.
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Of will Trump dissolve FED?
Trump can't dissolve the FED!
As to what will happen, well, if you're outside the US you will not even realize what hit you.
Just as people who lost their homes in 2008 without even knowing what a subprime mortgage was, everyone will be shocked by how inflation will skyrocket again everywhere. The US entering a recession while printing money will be a global disaster.
Do you think the FED should be an independent body or should have been working with the government after all he is appointed by the government official and thus shall respond to what is requested.
To which cutting interest rates will be a responsible response to the economy that's turning upside down. But if they are deliberately not printing money and not lowering interest rates, its not hard to see they are planing this global disaster.
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Anyone who opposes the Great Leader and his boundless wisdom will become a target - and JP is currently a high priority target because he ignores "orders" from above. Although there is currently no legal possibility for the JP to be removed from his position, the possibility of this changing should not be ruled out - because those in power obviously do not hesitate to do anything.
Somewhere in the background, there is already talk about how the current president will be enabled to run again, even though by law he can only be president twice. There is actually a provision that prevents this, but it's all words on paper - if Putler and that little man from North Korea could do it, why couldn't the mighty Dony? Let's remember the statement before the election "vote just this once and you won't have to ever again" (something like that).
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I was just watching the news about it where so many people talking about Trump trying to fire Jerome Powell. The tariff policy has turned the economy so bad while bonds are being sold from countries holding the debts of US according tot he news.
First he removed Gensler from the SEC and now Powell from FED and speculated that its because the FED is not cutting rates still despite the difficulties in the economy these days. So what do you think will happen if FED chair is replaced? Of will Trump dissolve FED?
The FED isn't the SEC. The FED is an independent body, and no US president has ever fired a FED chair, though theoretically, it's possible if the chair is found to have made serious errors or is no longer capable of running the FED. I don't think Trump could come up with a convincing reason to fire Powell.
Some folks might be optimistic about a change in the FED stance after a new chair takes over, but that's not accurate. The FED operates on the consensus of many members, and Trump can't easily bribe or replace them all. Plus, if that happened, it would create chaos in US politics and the economy, possibly making things worse than they are now. I hope the economy keeps doing well so the FED can confidently cut interest rates when needed!
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I was just watching the news about it where so many people talking about Trump trying to fire Jerome Powell. The tariff policy has turned the economy so bad while bonds are being sold from countries holding the debts of US according tot he news.
First he removed Gensler from the SEC and now Powell from FED and speculated that its because the FED is not cutting rates still despite the difficulties in the economy these days. So what do you think will happen if FED chair is replaced? Of will Trump dissolve FED?
Things would shift bigly if he fires himself and bans the fed.
Making himself in charge of interest rates.
I wonder if he be threatening default of the dollar soon.
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I was just watching the news about it where so many people talking about Trump trying to fire Jerome Powell. The tariff policy has turned the economy so bad while bonds are being sold from countries holding the debts of US according tot he news.
I'm not familiar with bonds, but I heard that China is selling their US bonds already.
First he removed Gensler from the SEC and now Powell from FED and speculated that its because the FED is not cutting rates still despite the difficulties in the economy these days. So what do you think will happen if FED chair is replaced? Of will Trump dissolve FED?
As far as I know, Gensler resigns in his position because obviously he is tied with the previous administration. But I do not think that Trump will dissolved FED, it's one of the institutions already. He also doesn't have any constitutional authority to dissolved any government agencies for that matter.
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If this really happens then another chaos created by Trump. And it will have a big impact on the US economy as dissolving FED, then it's like going back to the depression era as FED is somewhat the stabilizing factor in any countries economy. Perhaps this is just a threat on Trump, as we all know that he loves to bully and intimidation. So with that, I do not think that he wanted to do it, maybe he just sending a message or see what the reaction will be.
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Nothing will happen to the FED if he is fired.
Life will go on as usual. Maybe Bitcoin will experience a mini-pump up to say $90k, but everyone's already woken up from their slumber and will not be fooled into thinking that something big is going to happen with crypto shortly.
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I ask ChatGPT with this one and it says:
Donald Trump does not have the direct legal power to fire the Federal Reserve Chair Jerome Powell at will — at least, not without cause.
Legal Context:
-The Federal Reserve Act gives the Fed Chair a 4-year term (though the Chair can be reappointed).
-The law doesn’t clearly outline grounds for removal, but tradition and legal interpretation imply that removal is only allowed "for cause" — meaning misconduct or incapacity.
-A President cannot fire the Fed Chair just for policy disagreements, such as over interest rates.
We've been hearing from Trump that he will fire Powell if he will not adjust the interest rates. I bolded the text saying that the President can't just fire the FED chair just because of not adjusting the interest rates. The only reason that the FED can be removed is through misconduct or incapacity, and neither of the two is present especially incapacity.
In short, Trump doesn't have the power to do it. The only way is when Powell himself resigns which I don't think will happen anytime soon. As for what can happen if that happens, expect huge market fluctuations maybe just like when the tariff drama is at it's peak.
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I ask ChatGPT with this one and it says:
~snip~
Why ask for help from AI when some members in this thread wrote practically the same thing? The president does not have the power to remove the head of the FED, just as he does not have the power to remove the head of the SEC (he left of his own free will).
I don't think Trump has the constitutional power to dissolve the fed, i don't even think he has the power to fire the fed chairman. Trump did not fire Gensler, he resigned after Trump won the election. I believe we will find out soon enough what Trumps idea is with all this crazy tariffs, it is madness.
Things would shift bigly if he fires himself and bans the fed.
Making himself in charge of interest rates.
I wonder if he be threatening default of the dollar soon.
Do you think it's completely impossible for that to happen? In just a few months, the current US president has turned the world upside down, declared allies to be enemies, while at the same time warming relations with countries that do terrible things in the name of some crazy ideas.
Some in the US are already claiming today that this administration has done damage that will be felt for decades, not only in financial terms but also in terms of the trust that has been built practically since World War I.
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Some in the US are already claiming today that this administration has done damage that will be felt for decades, not only in financial terms but also in terms of the trust that has been built practically since World War I.
I cannot help but agree with them who say this, i don't understand what Trump thinks before he does what he does, or if he listens to advice, or are his advisers all hotheaded like him. There is nothing wrong is making changes as a newly elected president, but not changes that have widely negative implications.
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@Z-tight, maybe it's just that one man is intoxicated with the power that has been given to him, or maybe it's that he simply doesn't care what happens in 4 or 8 years because nature will do its thing, just like it does with every man. A man who is not responsible today is certainly not a man who thinks about the future.
Trust takes a long time to build, but it can be destroyed literally overnight, which is exactly what happened. Still, I think that even from this chaos something good can come out, at least as far as the EU is concerned and its awareness that it finally needs to free itself from dependence on the US when it comes to the security of its borders.
Someone stated the following: "The EU, as a community of 500 million people, asks the US (330 million) to defend them from Russia, which has 150 million people" - really incomprehensible, isn't it?
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This is a game of politics, if Jerome Powell is not ready to comply with the administrative rules and leadership of Trump, then things might not work out for them both and it's either Trump got his ass kicked out or Jerome collide with other members to make the conditions of the situation more worst than ever, so that it will be more pronounced and well projected to the world that his administration is bad and unfit for the development the world economy needed.
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This is a game of politics, if Jerome Powell is not ready to comply with the administrative rules and leadership of Trump, then things might not work out for them both and it's either Trump got his ass kicked out or Jerome collide with other members to make the conditions of the situation more worst than ever, so that it will be more pronounced and well projected to the world that his administration is bad and unfit for the development the world economy needed.
Trump will find a way to get what he wants and this idea may not even his anymore but to some big institutions pressuring him also because who would want the US to fail. Not cutting rates will be more devastating to the people and the markets. They have to pump and only the FED chair is hindering this goal.
The country though is more divided than how it was during Biden. We'll see what happens but this is definitely making the markets uncertain.
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First he removed Gensler from the SEC and now Powell from FED and speculated that its because the FED is not cutting rates still despite the difficulties in the economy these days. So what do you think will happen if FED chair is replaced? Of will Trump dissolve FED?
Markets will ‘crash’ if Trump has the power to fire Fed’s Powell, Sen. Elizabeth Warren says (https://www.cnbc.com/2025/04/17/markets-will-crash-if-trump-can-fire-feds-powell-elizabeth-warren-warns.html)
the central bank should be independent of politics and if trump gets the power to fire anyone on his own will other institutions might become wobbly the usa would not be far from what a dictatorship would be if trump can just wave his magic wand around
If eventually fed chairman is remove or he resign, it will not crash to the market, the effects of the tarrif war has already caused a lot losses on the market. The stock, commodity and others has already lost trillion of dollars, and I don't think Powell remover will be have bigger impacts than what the market has already Lost this few weeks.
I think senator Elizabeth ideas was just her opinion, some other persons might have a different ideas about Fed chairman removal in my opinion.
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First he removed Gensler from the SEC and now Powell from FED and speculated that its because the FED is not cutting rates still despite the difficulties in the economy these days. So what do you think will happen if FED chair is replaced? Of will Trump dissolve FED?
Markets will ‘crash’ if Trump has the power to fire Fed’s Powell, Sen. Elizabeth Warren says (https://www.cnbc.com/2025/04/17/markets-will-crash-if-trump-can-fire-feds-powell-elizabeth-warren-warns.html)
the central bank should be independent of politics and if trump gets the power to fire anyone on his own will other institutions might become wobbly the usa would not be far from what a dictatorship would be if trump can just wave his magic wand around
If eventually fed chairman is remove or he resign, it will not crash to the market, the effects of the tarrif war has already caused a lot losses on the market. The stock, commodity and others has already lost trillion of dollars, and I don't think Powell remover will be have bigger impacts than what the market has already Lost this few weeks.
I think senator Elizabeth ideas was just her opinion, some other persons might have a different ideas about Fed chairman removal in my opinion.
well if the plan is crush the middle class and no investors coming to US because the rates are high and people couldn't pay their bills. i guess Powell has to be kept in his position.
how many times had he increased the rates since Biden sat? and only a few times he lowered the rates the time when Biden was about to leave office. if the FED has all the tool to help, the FED should be doing it and not making things worse.
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As far as politicians are concerned, every appointees under their regime will always play a long their plans, otherwise appointees and even some existing government officials may be shown the way out.
I think the Fed chairman may dance to the tune of the current administration of Donald Trump, or things will be made very difficult for him to perform creditably well through out his regime.
Banks, financial institutions, others supposed to operate independently from governments interferences but this is in theory, practically, politicians hardly give room for most of these institutions to operate independently.
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As far as politicians are concerned, every appointees under their regime will always play a long their plans, otherwise appointees and even some existing government officials may be shown the way out.
I think the Fed chairman may dance to the tune of the current administration of Donald Trump, or things will be made very difficult for him to perform creditably well through out his regime.
Banks, financial institutions, others supposed to operate independently from governments interferences but this is in theory, practically, politicians hardly give room for most of these institutions to operate independently.
Trump isn't going to site and watch Jerome being independent as well.
Trump not having the power to remove Jerome Powell from the FED is just on papers. There is more he can do. Of course Trump can do something or maybe even accuse Powell of something else just as they do it in the 3rd world countries and then someone else has to replace him in the office. Politics is such cruel world for someone who mess with the people on top.
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Anyone who opposes the Great Leader and his boundless wisdom will become a target - and JP is currently a high priority target because he ignores "orders" from above. Although there is currently no legal possibility for the JP to be removed from his position, the possibility of this changing should not be ruled out - because those in power obviously do not hesitate to do anything.
Here we are again, accustomed to such rhetoric about a great leader here in my country.
This is one of the cases we discussed in a previous topic about countries claiming to be democratic. Unfortunately, this is happening in the country that is supposedly the most democratic in the world.
Like any dictator in the Middle East, Trump removes any figure who opposes his wise decisions, and there is no immunity for anyone. ;)
Somewhere in the background, there is already talk about how the current president will be enabled to run again, even though by law he can only be president twice. There is actually a provision that prevents this, but it's all words on paper - if Putler and that little man from North Korea could do it, why couldn't the mighty Dony? Let's remember the statement before the election "vote just this once and you won't have to ever again" (something like that).
Yes, I heard this talk in the background, and about the possibility of changing the constitution to enable Trump to run for a third term. If this happened in a Third World country, the world would rise up against him, especially the United States, but here everyone is silent. :-X
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I don't think Trump has the constitutional power to dissolve the fed, i don't even think he has the power to fire the fed chairman. Trump did not fire Gensler, he resigned after Trump won the election. I believe we will find out soon enough what Trumps idea is with all this crazy tariffs, it is madness.
you are very correct about Trump not having a constitutional power to dissolve the fed. The president authority over federal reserve is limited. I think the fed chair serves four years term, and the president can appoint or reappoint them, but removing them would require specific circumstances.
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It's just a political game in my opinion because the FED doesn't side with Trump, so he tries to pressure the FED chairman to resign himself with Trump's crazy policies. Maybe this works for their country, but how many countries are affected by Trump's policies? America feels they can stand alone without the surrounding countries, so we'll just have to see how long Trump's policies will last in the future.