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Is Fed Chair Jerome Powell Resigning Tomorrow?

Published by
Nidhi Kolhapur

Rumors are doing rounds on the internet that Fed Chair Jerome Powell is set to resign today (June 1, 2025), and rate cuts are on the way. However, many X Users have dismissed these claims as baseless, as there is no official evidence to back them. 

Massive Market Crash To Follow?

Some experts believe that the crypto market will see a parabolic run if the Fed Chair resigns, but any such event is unlikely as of now. However,  if it were to happen, the financial markets would see a massive crash. This is because a sudden loss of leadership at the Federal Reserve would damage confidence in both the U.S. dollar and the broader economy.

They also pointed out the market’s negative reaction when President Trump had just expressed a desire to remove Powell

Polymarket betters are also not buying the Powell resignation rumors. Despite the discussion on X, the odds on the Polymarket contract “Will Trump remove Jerome Powell in 2025?” held steady at 12%.

Just recently, Trump summoned Powell to the White House and criticised him for not cutting the interest rates. But Powell was firm on his decision, saying that the policy decisions will be based on economic data and not politics. The Fed has held rates steady at 4.25% to 4.50% for a third straight meeting.

Although Trump continues to push for rate cuts, in a recent interview, he said he has no plans to fire Powell, noting he’ll be able to replace him soon anyway, saying, “it’s in a very short period of time.”

Bitcoin Shows Resilience

Recently, the US Dollar crashed to a three-year low, and Wall Street was trading in red. Now, Bitcoin normally follows the Wall Street sentiment. However,  this time it stood strong. So, with Bitcoin showing surprising strength, investors might be eyeing Bitcoin as a safer bet in times of chaos.

Some analysts note that Bitcoin does not need QE, saying that institutional adoption and regulations can drive the next bull run, too. Bitcoin is currently trading at $104,967. Indicators show that the current rally may be nearing a short-term top. While it remains in a bullish trend, data from Cryptoquant shows that the market may be overheating.

FAQs

Will Jerome Powell’s resignation cause a market crash?

A sudden resignation could shake investor confidence and trigger a sharp market downturn, experts warn.

How could Powell’s resignation affect Bitcoin prices?

Experts suggest Bitcoin could rally as investors seek alternatives during Fed leadership uncertainty.

What is the current FOMC interest rate?

The current FOMC rate is between 4.25% and 4.50%, unchanged for the third straight meeting in 2025.

When is the next FOMC meeting scheduled?

The next FOMC meeting is scheduled for June 17–18, 2025.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

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