{"id":12890,"date":"2025-02-13T13:02:53","date_gmt":"2025-02-13T13:02:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12890"},"modified":"2025-02-13T13:02:53","modified_gmt":"2025-02-13T13:02:53","slug":"jerome-powell-just-got-ripped-apart-can-trump-fire-powell-for-no-rate-cut","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12890","title":{"rendered":"Jerome Powell Just Got Ripped Apart: Can Trump Fire Powell For No Rate Cut?"},"content":{"rendered":"<div>\n<p>Can Trump Fire Powell? Federal Reserve Chair Jerome Powell Testimony fielded questions at Congress on everything from inflation to rate cuts for a second Day.<\/p>\n<p>Over two days of testimony, Federal Reserve Chair Jerome Powell fielded questions from Congress on everything<a href=\"https:\/\/99bitcoins.com\/news\/this-week-in-crypto-what-impact-will-us-gdp-and-inflation-data-have\/\"> from inflation<\/a> and monetary policy to crypto banking and the Fed\u2019s autonomy. His careful yet telling responses outlined the central bank\u2019s current priorities and future direction.<\/p>\n<p>But first, let\u2019s take a quick look at the market \u2013 here\u2019s the state of the crypto in 2025 so far:<\/p>\n<ul>\n<li>J Powell Speaks -&gt; Prices Down.<\/li>\n<li><a href=\"https:\/\/99bitcoins.com\/news\/the-messy-world-of-meme-coins-like-trump-may-not-be-regulated-says-sec-commissioner\/\">Trump Memecoin<\/a> -&gt; Prices Down.<\/li>\n<li>Trump Inauguration -&gt; Prices Down.<\/li>\n<li><a href=\"https:\/\/99bitcoins.com\/education\/what-is-deepseek\/\">Deep Seek AI<\/a> -&gt; Prices Down.<\/li>\n<li>Trade Tariffs -&gt; Prices Down.<\/li>\n<li><a href=\"https:\/\/99bitcoins.com\/news\/david-sacks-press-conference-is-bitcoin-the-only-coin-worth-holding\/\">Crypto And Digital Assets Press Conference<\/a> -&gt; Prices Down.<\/li>\n<li>BlackRock announces EU BTC ETF -&gt; Prices Down.<\/li>\n<\/ul>\n<p>All these events make Bitcoin dump. How does that make you feel? Me? Not good.<\/p>\n<h2>Jerome Powell: \u2018We Aren\u2019t There on Inflation\u2019<\/h2>\n<figure style=\"width: 792px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/Gjl1zD1WcAA3P6b?format=png&amp;name=900x900\" alt=\"Image\" width=\"792\" height=\"373\"><figcaption class=\"wp-caption-text\">(<a class=\"general-link\" href=\"https:\/\/x.com\/KobeissiLetter\" target=\"_blank\" rel=\"noopener nofollow\">X<\/a>)<\/figcaption><\/figure>\n<p>Inflation took center stage during Powell\u2019s testimony, spurred by a recent CPI report showing inflation hitting 3%. While acknowledging progress, Powell stressed the Fed\u2019s determination to push it lower, declaring, \u201cWe are close but not there on inflation.\u201d<\/p>\n<p>Speaking to the <a class=\"general-link\" href=\"https:\/\/www.banking.senate.gov\/\" target=\"_blank\" rel=\"noopener nofollow\">Senate Banking Committee<\/a>, Powell confirmed the FOMC\u2019s intent to maintain restrictive rates for now, noting, \u201cWe want to make more progress on inflation.\u201d Similar remarks to the House underlined the Fed\u2019s cautious stance, with no rush to ease interest rates in a stable<\/p>\n<blockquote>\n<p>\u201cWe\u2019re in a pretty good place with this economy,\u201d Powell said. \u201cWith inflation taking time to align with our 2% target, our restrictive stance remains appropriate.\u201d<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The US government has stolen 26.1% of your purchasing power since 2020 through inflation.<\/p>\n<p>If you&#8217;re not making over 26.1% more money than 2020, you&#8217;re poorer.<\/p>\n<p>If your net worth hasn&#8217;t risen by 26.1% since 2020, you&#8217;re poorer. <a href=\"https:\/\/t.co\/8suyqUz7pD\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/8suyqUz7pD<\/a><\/p>\n<p>\u2014 Darth Powell (@VladTheInflator) <a href=\"https:\/\/twitter.com\/VladTheInflator\/status\/1889697894422188260?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 12, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The hearings turned to crypto banking, with Jerome Powell addressing safeguards against a meltdown involving major crypto issuers. He stressed the importance of banks grasping the risks tied to crypto ventures.<\/p>\n<p>\u201cIt\u2019s appropriate to ensure that banks engaging in crypto activity understand the risks involved,\u201d he said while warning regulators to avoid overcorrection. \u201cYou don\u2019t want to go too far. These activities already operate within a framework where banks understand, and we understand, what they\u2019re doing.\u201d<\/p>\n<h2>Independence of the Federal Reserve: Can Trump Fire Powell?<\/h2>\n<p>The hearings also turned to the Federal Reserve\u2019s independence, with Powell drawing a clear line on presidential influence. Responding to spats with former President Trump, who repeatedly criticized Fed policy, Powell underscored that the law shields the central bank from interference<\/p>\n<figure id=\"attachment_204306\" aria-describedby=\"caption-attachment-204306\" style=\"width: 245px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-204306 size-full\" src=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/02\/1739385328123378.gif\" alt=\"(Jerome Powell)\" width=\"245\" height=\"180\"><figcaption id=\"caption-attachment-204306\" class=\"wp-caption-text\">(<a class=\"general-link\" href=\"https:\/\/www.youtube.com\/watch?v=m_-qJKKz_Go\" target=\"_blank\" rel=\"noopener nofollow\">Jerome Powell<\/a>)<\/figcaption><\/figure>\n<p>During the hearing, Sen. Jack Reed (D-R.I.) asked Powell if the president could oust Fed board members, referring to recent <a href=\"https:\/\/99bitcoins.com\/news\/trump-tips-howard-lutnick-for-commerce-secretary-what-will-it-mean-for-bitcoin\/\">Kennedy Center<\/a> events. Powell shut it down. \u201cIt\u2019s pretty clearly not allowed under the law,\u201d he said, stressing that the Fed won\u2019t bow to political interference.<\/p>\n<p>Quantitative easing found its way into the discussion, with Powell clarifying that it\u2019s a tool reserved for dire situations. \u201cQuantitative easing is a tool we only use when rates are already at zero,\u201d he said, addressing concerns over its risk of spurring inflation or devaluing the dollar.<\/p>\n<p>Powell held a careful line on tariffs, particularly those aimed at China. He acknowledged trade complexities, noting that free trade principles still apply\u2014though not as seamlessly when a major global partner \u201cdoesn\u2019t really play by the rules.\u201d Yet, he maintained, \u201cIt\u2019s not the Fed\u2019s job to make or comment on tariff policy.\u201d<\/p>\n<h2>Takeaways from Jerome Powell\u2019s Testimony Day 2<\/h2>\n<p>This week\u2019s testimony laid Powell\u2019s priorities bare\u2014tackling inflation, anchoring monetary policy, and holding the line on the Fed\u2019s independence. He also addressed crypto\u2019s uneasy merger with conventional finance while threading the needle between transparency and economic stability.<\/p>\n<p><b>EXPLORE:\u00a0<\/b><a href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-coinbase-listings\/\"><b>15 New &amp; Upcoming Coinbase Listings to Watch in 2025<\/b><\/a><\/p>\n<p><a href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"nofollow noopener nofollow nofollow\"><b>Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/b><\/a><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Whether discussing tariffs, digital assets, or policy tools like QE, Powell\u2019s responses reflected the Federal Reserve\u2019s cautious approach.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        These Jerome Powell testimony highlights offer valuable insights into the Fed\u2019s future direction    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        We\u2019re likely to see some complex Fed decisions as the growing demand for balance between innovation, regulation, and economic stability continue.    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/jerome-powell-just-got-ripped-apart-can-trump-fire-powell-for-no-rate-cut\/\">Jerome Powell Just Got Ripped Apart: Can Trump Fire Powell For No Rate Cut?<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Can Trump Fire Powell? Federal Reserve Chair Jerome Powell Testimony fielded questions at Congress on everything from inflation to rate cuts for a second Day. Over two days of testimony, Federal Reserve Chair Jerome Powell fielded questions from Congress on everything from inflation and monetary policy to crypto banking and the Fed\u2019s autonomy. His careful [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12890","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12890"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12890\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}