President Trump reversed his decision to remove Federal Reserve Chair Jerome Powell from his position following intense market speculation regarding the potential change. The move came after Trump’s prior statements criticizing Powell and expressing a desire for his swift departure, which had fueled market instability. Treasury Secretary Scott Bessent warned against such a move, emphasizing its negative impact on financial markets. Despite the uncertainty in markets, no significant immediate effect was observed on major cryptocurrencies. The decision highlights the delicate balance between political pressure on central bank leadership and maintaining economic stability.