Rumors of Jerome Powell's resignation from the Federal Reserve (Fed) are spreading on the internet, but they have been confirmed as unfounded. Several experts dismissed these claims through X (formerly Twitter).
Market experts warned that Powell's sudden resignation would cause a significant shock to the financial markets. A sudden replacement of the Fed's leader could severely damage confidence in the US dollar and the US economy as a whole.
Polymarket investors also do not believe the rumors about Powell's resignation. The probability of a contract asking "Will Trump fire Powell in 2025?" remained at 12%.
Recently, Trump criticized Powell at the White House for not lowering interest rates. However, Powell firmly stated that "monetary policy is determined based on economic data, not politics." The Fed has recently kept its benchmark interest rate steady at 4.25-4.50% for three consecutive times.
Meanwhile, Bitcoin (BTC) has maintained its strength around $104,967, even as the US dollar hit a three-year low and Wall Street shows a downward trend. However, according to Cryptoquant data, there are analyses suggesting the market shows signs of overheating and may be approaching a short-term peak.
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