Crypto entrepreneur Anthony Pospiano said that US President Donald Trump should not resume his recent threat to dismiss the head of the American Federal Reserve, saying that this would establish a dangerous precedent – in particular given the real reason behind.
“I do not think that the President of the United States has come and unilaterally dismiss the president of the Fed,” said Pompliano in a video published on X on April 18.
Trigger the disagreement is a slippery slope, known as Poseliano
Pospiano said, “Where you have a disagreement and then the dismissal, I think that is not really the field in which we want to go.”
“The idea of dismissing the president of the Fed is a very bad precedent to define in this way.”
This comes after Trump went to his social media platform Truth Social to accuse the president of the Fed, Jerome Powell, of being too slow to reduce interest rates. “Powell’s termination cannot come quickly enough!” Trump said on April 17.
Potiano explained that if the Fed is supposed to operate independently, it agrees with criticism that argues that it is not really independent. “The Fed, I think, is very politicized, even if they claim not to be,” he said.
Pospiano recognized his own criticism from the Fed, saying that he is not exactly a fan, but stressed that even if the Fed had made mistakes, responding in kind is not the right approach.
“I always think it is not because someone else does something wrong that you should do something wrong,” said Poseliano.
American senator Elizabeth Warren recently warned that if Trump ends up moving Powell, this could undermine the confidence of investors in the integrity of the American capital markets and trigger a financial accident.
“A large part of our strong economy and a large part of the strong world economy is the idea that large parts move independently from politics,” said Warren during an appearance on CNBC.
In relation: Powell of the Fed reaffirms support for stable legislation
A decrease in interest rates often leads to increased liquidity, which has historically led to higher prices perceived assets such as bitcoin and other cryptocurrencies.
It does not come long after Powell said that establishing a stable legal framework was a “good idea”.
In a panel of April 16 at the Chicago Economic Club, Powell said: “The climate is changing, and you travel to the general public of all this sector, so the Congress looks again […] in a legal framework for stablecoins. »»
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