Fed Chair Jerome Powell reportedly considers resigning, William Pulte hints originally appeared on TheStreet .
William Pulte , Chairman of the Board of Fannie Mae and Freddie Mac, said on July 11, "I'm encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom."
"The patriotic thing for Jerome Powell to do is to resign," Pulte wrote on X on July 12. Earlier, he asked for Powell to be investigated for "renovation" of the Fed headquarters.
Over the past few months, we have seen President Donald Trump leading an intense campaign against "Too Late" Powell. He has time and again asked Powell to slash interest rates and even threatened to fire him multiple times.
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As Bitcoin surpassed the $112,000 price mark on July 10, Trump hailed the crypto market for hitting "through the roof." Crediting his tariff policy for the bullish run, he said there is no inflation and again asked the central bank to rapidly cut rates to "reflect this strength."
However, the Consumer Price Index (CPI) rose 0.3% month-over-month in June, reflecting a hotter-than-expected inflation.
The Fed has kept interest rates unchanged for the past few months within the range of 4.25%-4.5%.
"I think we should be 3 points lower, interest rates. He's costing our country a lot of money," Trump told reporters before departing the White House for a trip to flood-ravaged Texas on July 11.
"We should be No. 1, and we're not, and that's because of Jerome Powell."
Interest rates and crypto market dynamics
As the crypto market has become increasingly mainstream due to institutional adoption, retail interest, and more regulatory clarity, it is no longer insulated from the impact of macroeconomic events such as rate cuts.
It is estimated that if the central bank were to lower rates at least once later this year, it could lead to a significant fund inflow into the crypto market.
The crypto market is in the midst of a historic bull run as Bitcoin has been hitting record highs one day after another. So far, its all-time high (ATH) price is $118,856.47, which it posted on July 11.
As per Kraken's price feed , BTC was trading at $117,931.85 at press time. The crypto market cap stood at $3.7 trillion at the time of writing.
The Federal Reserve spokesperson declined to comment on the matter but pointed out the many times Chair Powell has said he fully intends to serve his term.
Fed Chair Jerome Powell reportedly considers resigning, William Pulte hints first appeared on TheStreet on Jul 11, 2025
This story was originally reported by TheStreet on Jul 11, 2025, where it first appeared.
