Powell and Cook Face Pressure Amid Mortgage Allegations, Impacting Market Volatility

Political pressure from President Trump is mounting for Fed Chair Jerome Powell and Governor Lisa Cook, who are facing dismissal threats due to allegations of financial misconduct. This intensifies existing tensions surrounding the Fed’s independence, with market volatility likely to increase as a result. Experts highlight that Powell’s commitment to the Fed’s autonomy in resisting these pressures could influence USD-denominated asset prices and cryptocurrency markets influenced by central banking policy shifts.