Trump has recently been looking for trouble with Federal Reserve Chair Jerome Powell again.

What is the "crime" this time? The Federal Reserve headquarters renovation cost $3 billion—Trump gave his own assessment: this money is enough to build several Trump Towers. The implication is that the money was spent excessively.

Speaking of which, Trump's remarks are escalating step by step. First, he called Powell a "fool," then said he wanted to "fire him." But then he turned around and mentioned that Powell's term ends in May 2026, adding, "I might still get rid of him." He also revealed that a new Fed chair will be announced in January 2026.

This routine is actually very familiar—Trump's usual approach is to publicly pressure the Fed to cut rates, using various "big news" to sway public opinion. The recent building overspending is just a new excuse.

Legally, it’s almost impossible for the President to directly dismiss the Fed Chair; threats of lawsuits sound loud but have limited practical effect. Powell is well accustomed to this kind of pressure and remains steady. Market participants need not be frightened by these remarks—just listen and don’t take them seriously.

Back to Trump himself—he nominated Powell in 2017, and now, even if he regrets it, he can only watch helplessly. The political turmoil probably has less impact on cryptocurrencies like $BTC, $ETH, and others than it appears on the surface. Ultimately, the market will focus on the Fed’s actual policy actions, not the rhetoric war.