{"id":127513,"date":"2025-04-19T06:15:37","date_gmt":"2025-04-19T06:15:37","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127513"},"modified":"2025-04-19T06:15:37","modified_gmt":"2025-04-19T06:15:37","slug":"trump-firing-powell-would-be-a-very-bad-precedent-to-set-pompliano","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127513","title":{"rendered":"Trump firing Powell would be a \u2018very bad precedent to set\u2019 \u2014 Pompliano"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCrypto entrepreneur Anthony Pompliano says that US President Donald Trump shouldn\u2019t follow through on his recent threat to fire the head of the US Federal Reserve, saying it would set a dangerous precedent \u2014 especially considering the true motive behind it.<br \/>\n\u201cI do not believe that the President of the United States should come in and unilaterally fire the Fed President,\u201d Pompliano said in a video posted on X on April 18.<br \/>\nFiring over disagreement is a slippery slope, says Pompliano<br \/>\nPompliano said, \u201cWhere you have a disagreement and then the firing, I think that\u2019s not really the area that we want to go into.\u201d<br \/>\n\u201cThe idea of firing the Fed chairman is a very bad precedent to set this way.\u201d<br \/>\nIt comes after Trump took to his social media platform Truth Social to accuse Fed chair Jerome Powell of being too slow to cut interest rates. \u201cPowell\u2019s termination cannot come fast enough!\u201d Trump said on April 17.<br \/>\nAnthony Pompliano made the remarks on his online show \u201cFrom The Desk of Anthony Pompliano.\u201d Source: Anthony Pompliano Pompliano explained that while the Fed is meant to operate independently, he agrees with critics who argue it\u2019s not truly independent. \u201cThe Fed, I think, is highly politicized, even though they pretend not to be,\u201d he said.<br \/>\nPompliano acknowledged his own criticism of the Fed, saying he&#8217;s not exactly a fan, but emphasized that even if the Fed has made mistakes, responding in kind isn&#8217;t the right approach.<br \/>\n\u201cI still think that just because somebody else is doing something wrong doesn&#8217;t mean that you should do something wrong,\u201d Pompliano said.<br \/>\nUS Senator Elizabeth Warren recently warned that if Trump eventually moves to fire Powell, it could undermine investor confidence in the integrity of US capital markets and trigger a financial crash.<br \/>\n\u201cA big part of our economy strong, and a big part of the world economy strong, is the idea that the big pieces move independently of politics,\u201d Warren said during an appearance on CNBC.<br \/>\nRelated: Fed\u2019s Powell reasserts support for stablecoin legislation<br \/>\nLower interest rates often lead to increased liquidity, which has historically led to higher prices of perceived riskier assets like Bitcoin and other cryptocurrencies.<br \/>\nIt comes not long after Powell said establishing a stablecoins legal framework was a \u201cgood idea.\u201d<br \/>\nIn an April 16 panel at the Economic Club of Chicago, Powell said, \u201cThe climate is changing, and you\u2019re moving into more mainstreaming of that whole sector, so Congress is again looking [&#8230;] at a legal framework for stablecoins.\u201d<br \/>\nMagazine: Your AI\u2019 digital twin\u2019 can take meetings and comfort your loved ones<a href=\"https:\/\/cointelegraph.com\/news\/united-states-donald-trump-jerome-powell-consequences-firing-federal-reserve?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCrypto entrepreneur Anthony Pompliano says that US President Donald Trump shouldn\u2019t follow through on his recent threat to fire the head of the US Federal Reserve, saying it&hellip; 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