Trump: New Fed Chair to Be Announced Very Soon
On board Air Force One, President Donald Trump told journalists on Friday that the decision on the next Fed chair will be made "very soon."
On board Air Force One, President Donald Trump told reporters on Friday that the decision about the next Federal Reserve chair would be made "very soon." According to Trump, a good Fed chair should primarily lower interest rates, – a clear dig at current chair Jerome Powell.
On the question about Kevin Warsh, former Fed governor, Trump replied: "He is highly respected." Warsh is seen as a top candidate for the chairmanship, should Trump be re-elected in November. Earlier, Trump had called for a full percentage point rate cut, in an effort to stimulate the economy and please the markets.
Trump has been targeting Jerome "Too Late" Powell for months because he believes rates aren’t falling enough. Last week, the first face-to-face talks between the two took place, during which Trump reportedly said Powell is "making a mistake" by sticking with the current policy.
Powell's term formally ends on May 15, 2026, but he remains on the Fed board until early 2028. Still, Trump seems determined to push monetary policy faster in his direction—and the crypto market is watching closely.
Bitcoin rebounds after Trump-Musk clash
In recent days, Trump has been in the spotlight for other reasons: erroneous reporting about a so-called "Trump Wallet" and a public war of words with Elon Musk. That clash briefly unsettled the markets, but Bitcoin has since resumed its rally and again broke through the $105,000 mark.
One of the drivers behind the renewed bullish trend is Trump’s controversial proposal, the so-called "Big Beautiful Bill." This could expand the U.S. budget deficit by more than $3 trillion over ten years—historically bullish for scarce assets like Bitcoin.
Eric Trump: Trump-coin incoming?
As if that wasn’t enough, Eric Trump—son of the president—said that the Trump family-backed DeFi project World Liberty Financial plans to buy a "significant amount" of a memecoin. Whether these are serious investment plans or political PR remains unclear.
Bottom line: While the White House gears up for monetary power plays, Bitcoin isn’t getting knocked off its game. Whether rates rise, fall, or stay flat—the crypto market knows: political chaos in Washington is often pure fuel for digital assets.
