According to Jinse Finance, Trump plans to fire Federal Reserve Chairman Jerome Powell, but experiences with the Central Bank of Turkey seem to serve as a warning against such actions. Turkish President Erdogan issued the first decree to dismiss the country's central bank governor, Murat Cetinkaya, in July 2019. Following this, a series of interventions by the Turkish Central Bank in 2020-21 led to the collapse of the national currency and directed capital towards BTC and stablecoins. If Powell is dismissed, it could accelerate the dumping of the dollar and subsequently promote Bitcoin adoption. Data shows that the dollar index has already fallen by more than 10% in three months, currently dropping to 98.
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Analysis: Trump's firing of Powell may trigger a crisis similar to the Turkish lira, leading capital to flow into BTC and stablecoins.
According to Jinse Finance, Trump plans to fire Federal Reserve Chairman Jerome Powell, but experiences with the Central Bank of Turkey seem to serve as a warning against such actions. Turkish President Erdogan issued the first decree to dismiss the country's central bank governor, Murat Cetinkaya, in July 2019. Following this, a series of interventions by the Turkish Central Bank in 2020-21 led to the collapse of the national currency and directed capital towards BTC and stablecoins. If Powell is dismissed, it could accelerate the dumping of the dollar and subsequently promote Bitcoin adoption. Data shows that the dollar index has already fallen by more than 10% in three months, currently dropping to 98.