Trump Threatens Legal Action Against Powell, Sparking Market Uncertainty

Recent weeks have seen former President Donald Trump intensify his campaign to replace Federal Reserve Chairman Jerome Powell. Trump’s discontent with the Fed’s policies and their impact on the economy and cryptocurrency market, particularly stemming from Powell’s reluctance to lower interest rates, adds a new layer of complexity to the existing tensions between Trump and Powell. Trump has issued a legal threat against Powell regarding this issue. 10 members of the Federal Reserve have urged for rate reductions, while Powell remains steadfast in his approach.