Crypto entrepreneur Anthony Pompompomno said U.S. President Donald Trump should not follow his recent threat from launching the head of the Auther Federal Reserve, saying it would set a dangerous precedent – especially given the real motivation behind it.
“I don’t think the U.S. president should come in and unilaterally fire the Fed president.” explain In a video posted on X on April 18.
Pompliano says
“Where you have a disagreement and then the fire, I don’t think it’s the area we’re going to go into,” Pompliano said.
“The idea of firing the Fed chairman is a very bad precedent set like this.”
Get his Social Media Platforms Truth Social Criticizes the Fed chair Jerome Powell for being too slow to lower interest rates. “Powell’s termination cannot be fast enough!” Trump said on April 17.
Pompliano explained that while the Fed intends to operate independently, he agrees that critics think it is not a truly independent critic. “I think the Fed is highly politicized even if they pretend not to do that,” he said.
Pompliano admitted his criticism of the Fed, saying he was not entirely a fan, but stressed that even if the Fed made a mistake, responding in kind is not the right way.
“I still think that just because other people are doing something wrong doesn’t mean you should do something wrong,” Pompliano said.
U.S. Senator Elizabeth Warren recently warned In the end, Trump Moving to Powell could undermine investor confidence in the integrity of the U.S. capital market and trigger a financial collapse.
“A big part of our economy, and a big part of the world economy, is the idea of being largely independent of politics,” Warren said on CNBC last time.
Related: Fed’s Powell re-supports support for stability legislation
Lower interest rates often lead to increased liquidity, which historically leads to higher riskier asset prices such as Bitcoin and other cryptocurrencies.
Soon after, Powell said it was a “good idea” to establish a stable legal framework.
“The climate is changing, you are more mainstreaming across the sector, so Congress once again (…) looks again in a stable legal framework,” Powell said on April 16 in a panel at the Chicago Economic Club.
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