FOMC

Jerome Powell

Chair

Elon Musk

<ul class="wp-block-list">
 <li>Trump is expected to keep Jerome Powell as Fed chief until 2026, despite prior allegations of misconduct.&nbsp;&nbsp;</li>  
 <li>Powell confirmed he will not stand down if asked by Trump during a recent FOMC panel discussion.&nbsp;&nbsp;</li>  
 <li>Experts agree Trump would avoid disrupting industry continuity by removing Powell.&nbsp;&nbsp;</li> 
</ul>  
<p>President-elect Donald Trump is expected to allow <a href="https://cryptonewsland.com/powells-signal-for-rate-cuts-ignites-major-cryptocurrency-market-rally/" target="_blank" rel="noopener noreferrer nofollow">Jerome Powell </a>to continue as Federal Reserve chairman until his term ends in next year. Although their relationship has been tense in recent times, experts believe Powell will complete the final 18 months of his term without interruption.&nbsp;&nbsp;</p>  
<h2 class="wp-block-heading" id="h-powell-s-strong-commitment-to-his-role"><strong>Powell’s Strong Commitment to His Role</strong></h2>  
<p>&nbsp;At a new Joint Open Markets Committee&nbsp; meeting, he made it clear that he intends to stay in his role. When asked if he would step down at Trump’s request, Powell replied, “No.” This came after Trump had previously suggested he might remove Powell but later confirmed that Powell would finish his term. He also stressed that such a move by the president would not be constitutionally possible.&nbsp;&nbsp;</p>  
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<p>Economists and trade observers agree that Powell will likely remain at the Federal Reserve. Mark Spindel, founder of Potomac River Capital, said it is unlikely Trump would seek to remove Powell. Doing so could cause instability in the stock trading system, which Trump would want to avoid. Michael Strain from the American Enterprise Institute also believes Donald would prefer not to disrupt monetary policy. Strain noted that Trump tends to focus on market reactions and would not risk a change that could harm the monetary system.&nbsp;&nbsp;</p>  
<p>Furthermore, Strain pointed out that his approach, particularly the ongoing interest penalty reductions, aligns with Trump’s economic goals. This means that Trump is likely to let Powell continue in the role to maintain policy consistency.&nbsp;&nbsp;</p>  
<h2 class="wp-block-heading" id="h-trump-s-broader-plans-for-government-leadership"><strong>Trump’s Broader Plans for Government Leadership</strong></h2>  
<p>While Trump’s position on the Federal Reserve appears stable, his stance on other government agencies remains uncertain. During the Bitcoin 2024 conference, Trump announced he would fire SEC Chair Gary Gensler on his first day in office. This statement aligns with his broader plan to reshape government leadership. It is common for agency heads to resign when a new president takes office, and <a href="https://cryptonewsland.com/ripple-ceo-anticipates-bullish-outlook-for-xrp-under-trump-leadership/" target="_blank" rel="noopener noreferrer nofollow">Trump </a>may continue this trend.&nbsp;&nbsp;</p>  
<p>Additionally, he has voiced his desire to reduce government spending. He has suggested that Elon Musk could help in this effort, highlighting Musk’s ability to cut costs at his companies. However, the impact of such cuts remains uncertain given Musk’s controversial actions at Twitter, now known as X.</p> 
<p>The post <a href="https://cryptonewsland.com/trump-expected-to-keep-jerome-powell-as-fed-chair-until-2026/" rel="noopener noreferrer nofollow">Trump Expected to Keep Jerome Powell as Fed Chair Until 2026&nbsp;&nbsp;</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Trump Expected to Keep Jerome Powell as Fed Chair Until 2026

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