The Trump administration is actively selecting a replacement for Jerome Powell as Federal Reserve Chairman, with 11 candidates being considered, including David Zervos and Rick Rieder. This decision carries significant weight, potentially influencing Bitcoin (BTC) and Ethereum (ETH), both of which are highly sensitive to the Fed’s monetary policy shifts.
President Trump has been vocal in his opinion about Powell’s performance. He has publicly expressed dissatisfaction with Powell’s handling of economic challenges, leading to a shift in Federal Reserve leadership that could have far-reaching consequences.
The new Chair’s appointment could significantly impact global liquidity and market sentiment, especially in cryptocurrency markets. Institutional investors are closely watching this selection process as they anticipate the potential effects on both traditional finance and the crypto sphere.