Firing Powell Could Set Dangerous Precedent and Harm Crypto, Warns Pompliano

Firing Powell? The Fed’s Independence—Or Just Another Crypto Soap Opera? 🚀🤡

Our dear friend Anthony Pompliano, a man who treats Bitcoin as one treats a delicate soufflé—both with awe and an eye to profit—has voiced his disdain for President Trump’s theatrical threat to dismiss Jerome Powell, the Fed’s ringmaster extraordinaire. He warns, with the gravity of a man who has perhaps read too many bedtime stories about institutions, that such capricious firing might unravel the very notion of the Fed’s independence, sending Bitcoin, stocks, and the collective American trust into a dizzy waltz of uncertainty.

“The President of the United States deciding to fire the Fed President all on his own? Preposterous! This shortsighted spectacle would be a rather ghastly precedent,” Pompliano muses, probably while wearing a monocle and twirling a moustache he doesn’t possess.

Pompliano’s lament arrived shortly after Trump unleashed his signature Truth Social diatribe, declaring, “Powell’s termination cannot come fast enough!”—a statement as subtle as a sledgehammer at a tea party. He notes that the Fed’s image already resembles a political circus, and firing Powell would only invite more clowns under the big tent.

Choosing Decorum Over Crypto Delirium

Though Pompliano fancies himself a critic of the Fed (and who isn’t these days?), he nonetheless insists that combating folly with even greater folly is a recipe for farce. Sure, rate cuts often send Bitcoin soaring like Icarus chasing the sun, but sacrificing the sanctity of our financial institutions for a fleeting crypto high? Why, that would be as unwise as bringing a peacock to a fox hunt.

Senator Warren’s Crystal Ball of Doom

Not to be left out of the melodrama, Senator Elizabeth Warren prophesies a market free-fall should the Fed chair be ousted. Speaking to CNBC in tones reminiscent of a Victorian moralist, she warns that losing the Fed’s supposed impartiality could reduce America from a shining beacon of democracy to yet another “two-bit dictatorship.” Charming.

“Our economy’s strength hinges on its independence from political caprice,” Warren intoned, a line perhaps better suited to a play than real life.

Pompliano concurs, painting a bleak picture where monetary policy becomes a puppet show, swayed not by sober analysis but by the whims of the day’s political wind. Investors, he warns, might flee faster than debutantes at a scandal, and that, dear reader, is no laughing matter—though it is entertaining to imagine.

The Climate of Crypto Is Changing

Earlier in the week, Powell confessed, perhaps with a sigh, that stablecoins and their digital brethren have firmly taken up residence on the Fed’s radar. “The climate is changing,” he said, as if announcing the weather at a garden party, signaling that crypto’s wild garden is growing wilder still.

Meanwhile, Trump and his Republican compatriots continue their campaign to boot Powell out, frustrated that Uncle Jerome refuses to slash rates at whim. The Fed last cut rates in December 2024, but Trump frets that the rest of the world’s central banks have behaved with more haste, leaving America feeling a bit like the wallflower at the monetary ball.

Bitcoin’s Silver Lining?

In this tempest of uncertainty, some experts hold out hope that a weakening dollar might shepherd more souls towards Bitcoin, seeking refuge in the digital playground. A weaker fiat currency, they argue, might kindle a fiery passion for crypto, protecting one’s treasures from the tempest of inflation and political drama alike.

Why did Pompliano slam Trump’s firing proposal?

He fears it would shred the Fed’s independence and spook investors, leaving Bitcoin and global markets to flounder like a ship without a rudder.

Why the Trump-Powell feud over rates?

Trump, ever impatient, chides Powell for holding back on the rate cuts, vexed by the fact that other central banks are seemingly speeding ahead while America lingers.

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2025-04-19 18:24