Trump’s Wild Ride: Can He Fire the Fed Chair and Make Bitcoin Soar? 🚀

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Well now, gather ’round, folks, for a tale that’s as twisty as a Mississippi riverboat! It seems there’s a ruckus brewing over at the Federal Reserve, where the independence of the good ol’ bank is being questioned like a cat in a dog show. On the 9th of April, Chief Justice John Roberts, in a move that could make a catfish blush, reversed a lower-court ruling and handed President Trump the keys to the dismissal of two officials from independent agencies. Talk about a power trip! 🐟

Now, this here case is no small potatoes. Bloomberg, that fine oracle of finance, has reported that the legal status of these officials is as tangled as a ball of yarn, closely resembling that of the Federal Reserve governors. The outcome could very well decide if a president can give the ol’ heave-ho to the Fed chair. And let me tell you, that’s a game changer! 🎩

Bloomberg Economics has declared the Fed’s independence to be “under imminent threat,” which sounds like a headline from a dime novel! The legal tussle escalated when Roberts allowed Trump to keep chasing after those two independent agency leaders. Lawyers for these officials have until April 15 to respond, which is just around the corner, hinting at a showdown before the Supreme Court over presidential powers. Grab your popcorn! 🍿

Now, the Kobeissi Letter, in a fit of clarity, pointed out that Trump didn’t explicitly ask to fire Jerome Powell, the Fed chair. He just wanted to remove some other folks. So, let’s not get our feathers ruffled just yet! 🦚

Bitcoin Bulls Rejoice! 🎉

Oh, but the Bitcoin bulls are prancing about like they’ve just won the lottery! The mere thought of the Fed’s autonomy being curtailed has got them all hot and bothered, believing it could send Bitcoin’s value soaring higher than a kite in a windstorm. Pete Rizzo, the host of the Supply Shock podcast, called this development “the most bullish thing for Bitcoin imaginable.” Well, bless his heart! 💖

Thomas Fahrer, co-founder of Apollo, speculated that “Jerome Powell’s independence is very much at risk.” He even suggested that the Fed might be printing money and buying Bitcoin faster than you can say “jackrabbit!” 🐇

Jack Mallers, the founder of Strike, shared his thoughts in an interview, predicting that in the next 12 to 36 months, we’ll see changes in monetary policy that’ll make your head spin! He recalled how Trump hinted at having some oversight over the Federal Reserve, questioning if this was his way of taming inflation while letting the S&P and other assets rise for the greater good. Sounds like a tall tale, doesn’t it? 🤔

Mallers also pondered whether Trump might want his Treasury Secretary, Bessent, to take the reins at the Fed. Is that too far-fetched? And what about yield curve control? Could the administration be plotting to keep asset prices climbing while inflation is kept at bay, all at the expense of those poor souls holding dollars? It’s a wild ride, folks! 🎢

As of now, Bitcoin is trading at a whopping $81,002. So, hold onto your hats, because this story is far from over! 💰

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2025-04-11 20:14