{"id":81157,"date":"2025-07-16T06:42:12","date_gmt":"2025-07-16T06:42:12","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=81157"},"modified":"2025-07-16T06:42:12","modified_gmt":"2025-07-16T06:42:12","slug":"crypto-bulls-rejoice-congresswoman-confirms-powells-imminent-firing","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=81157","title":{"rendered":"Crypto Bulls Rejoice: Congresswoman Confirms Powell\u2019s Imminent Firing"},"content":{"rendered":"

A single-word reply on X from Rep.\u202fAnna\u202fPaulina\u202fLuna (R\u2011FL) \u2014 \u201cConfirmed\u201d \u2014 rocketed through the crypto markets early Wednesday, convincing a growing chorus of traders that Federal Reserve Chair\u202fJerome\u202fPowell\u2019s tenure is measured in days, not months. Within minutes of Luna\u2019s affirmation<\/a> that \u201cJerome\u202fPowell is going to be fired.\u202fFiring is imminent,\u201d prediction\u2011market odds of his ouster on Polymarket leapt to 26\u202fpercent, the highest reading this year, up from 16\u202fpercent only 24\u202fhours earlier.<\/p>\n

A White\u2011House\u2011backed search is already under way. Treasury Secretary Scott\u202fBessent, in an on\u2011record Bloomberg interview, acknowledged \u201ca formal process that\u2019s already starting\u201d to identify Powell\u2019s successor, adding that \u201cthere are a lot of good candidates inside and outside the Federal Reserve.\u201d<\/p>\n

President\u202fDonald\u202fTrump underscored the point during an impromptu press gaggle, repeating last week\u2019s warning that \u201cthe renovations at the central bank were a fireable offense.\u201d Those renovations \u2014 an over\u2011budget, $2.5\u202fbillion overhaul of the Fed\u2019s historic Eccles Building \u2014 have become the legal pretext for dismissal, with Trump allies alleging \u201cinefficiency\u201d and \u201cneglect of duty,\u201d two of the three causes for removal spelled out in the Federal Reserve Act. Powell has asked the Fed\u2019s inspector general to reopen its review of the project.<\/p>\n

Notably, Bill\u202fPulte, the Federal Housing Finance Agency head and a longtime Powell critic, confirmed<\/a> the rumors to his followers on X: \u201cI heard from a very credible, bipartisan source, today, that Jerome Powell is considering resigning. This maps with both reports and also the talk in DC.\u201d<\/p>\n

Crypto Markets Sense A Massive Bull Run<\/h2>\n

The Bitcoin and crypto prices haven\u2019t shown any reaction to the rumor yet. After piercing $123,000 on Monday, BTC is still 4.5 percent below the record high. The entire crypto market seems to be in a wait-and-see position.
\nHowever, long-term, the implication could be profound for the crypto markets. \u201cI cannot think of a more bullish catalyst for Bitcoin in the past five years than the complete and utter humiliation of Jerome\u202fPowell<\/a>,\u201d wrote macro commentator Julian\u202fFigueroa, pointing to what he called the \u201cfa\u00e7ade\u201d of central\u2011bank independence collapsing in real time.<\/p>\n

Long\u2011time trader Byzantine\u202fGeneral echoed the ambivalence: \u201cPowell was actually a great Fed chair. But\u2026 if he resigns then it\u2019s very likely that whoever comes next will lower rates, which is bullish for our cryptographic currencies.\u201d<\/p>\n

Should President\u202fTrump succeed<\/a> in replacing Powell with a more accommodating successor\u2014one prepared to deliver the \u201cthree\u2011percentage\u2011point\u201d rate cut he has publicly demanded\u2014the Federal Reserve would likely be forced to shelve its balance\u2011sheet runoff precisely as Washington ramps up fresh fiscal stimulus.<\/p>\n

That synchronous pivot away from quantitative tightening would flip the liquidity regime from drain to deluge, recreating the macro backdrop that powered the crypto market\u2019s 2020\u201121 vertical ascent <\/a>and positioning it for the next major bull run.<\/p>\n

At press time, the total crypto market cap stood at $3.68 trillion.<\/p>","protected":false},"excerpt":{"rendered":"

A single-word reply on X from Rep.\u202fAnna\u202fPaulina\u202fLuna (R\u2011FL) \u2014 \u201cConfirmed\u201d \u2014 rocketed through the crypto markets early Wednesday, convincing a growing chorus of traders that Federal Reserve Chair\u202fJerome\u202fPowell\u2019s tenure is measured in days, not months. Within minutes of Luna\u2019s affirmation that \u201cJerome\u202fPowell is going to be fired.\u202fFiring is imminent,\u201d prediction\u2011market odds of his ouster on […]<\/p>\n","protected":false},"author":0,"featured_media":81158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-81157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/81157"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=81157"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/81157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/81158"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=81157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=81157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=81157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}