Jerome Powell Resignation Approaching: Will Bitcoin Soar Soon?
Former President Donald Trump claims he’s discovered the legal means necessary to finally oust Federal Reserve Chair Jerome Powell, citing what he deems a “shameful” $2.5 billion upgrade of the central bank’s headquarters in Washington, D.C.
There’s already growing price floor for Powell’s resignation, with Congresswoman Anna Paulina Luna stating that Powell’s dismissal is on the horizon. Is 
Bitcoin ▲1.67% about to skyrocket to $130,000 with this development?
Trump’s critique focuses on the escalating expenses of the Fed’s extensive renovation project, initially sanctioned in 2021 but currently hundreds of millions over budget.
During a press event on Tuesday, Trump reiterated his stance:
“I think he’s awful. I believe he’s utterly stiff. But what I didn’t see was someone who required a palace to reside in,” Trump stated to reporters. “When you allocate $2.5 billion for what is essentially a renovation, I consider it utterly disgraceful.” – Donald Trump
Powell Resignation: You Live In a Banana Republic Now
By claiming Powell mishandled funds, Trump is attempting to bypass limitations on dismissing a Fed chair due to rate decisions. Nevertheless, executing this could lead to unintended consequences.
Removing Powell would represent an unprecedented violation of central bank independence, potentially shaking investor confidence, destabilizing inflation expectations, and dragging the Fed’s mandate into political turmoil.
The suggestion is that the placeholder Trump appoints will reduce rates to zero, but this would also centralize more power in the executive branch. We would enter a massive cycle with far-reaching repercussions, followed by a significant erosion of trust in the legal framework.
I’ll buy into the rumors when they materialize, yet I would love to witness President Trump terminate Jerome Powell, promptly install himself as fed chair, secure all the locks before a district judge can restore Powell, and slash the rates by 3 points with a cake-covered sword pic.twitter.com/Npsuzq1lpC
— Large holder Psychiatrist
Legally, Powell can only be dismissed “for cause,” such as misconduct. Trump’s argument seems to rely on allegations that Powell inaccurately represented renovation expenses in congressional testimony and breached local building approval terms.
Observers of the Fed warn that removing Powell before his term concludes in May 2026 might harm U.S. credit reputation, increase borrowing costs, and escalate inflation expectations.
Inside the Fed’s $2.5B Renovation Blowup
Although the Fed maintains this is the first “thorough renovation” since the building’s inauguration, Trump officials assert that cost overruns approached nearly $600 million due to inflation, labor shortages, and underground construction limitations linked to D.C. zoning regulations.
In 2024, the Fed abandoned plans for a third building entirely owing to escalating expenses. Budget Director Russ Vought criticized the project as a squandering of taxpayer funds:
“Trump is deeply distressed about the Fed’s extravagant remodel,” remarked Russ Vought. “The plans include rooftop terrace gardens, VIP private dining facilities and elevators, water features, high-end marble, and more.”
Powell strongly contested, claiming that, “There’s no VIP dining facility. There’s no new marble… There are no exclusive elevators. There are no new water features. And there are no rooftop terrace gardens.”
Trump’s Strategy: Overspending + Misrepresentation = ‘Cause’
Trump seems poised to take advantage of Powell’s position. Deputy Chief of Staff James Blair, a Trump appointee, asserted that Powell’s testimony “leads me to conclude the project is not consistent with authorized plans.”
If Trump succeeds, anticipate a major crypto pump owing to lowered interest rates and institutional fear of missing out, but also a constitutional headache. It would represent a market triumph, but a setback for precedent.
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Key Takeaways
- Former President Donald Trump asserts he’s discovered the legal means to finally dismiss Federal Reserve Chair Jerome Powell.
- Attention is on Powell this month as inflation persists and employment metrics show weaknesses.
The post Jerome Powell Resignation Imminent: Is BTC About to Rocket? appeared first on 99Bitcoins.
