President Donald Trump said during a Cabinet meeting on Tuesday at the White House that Jerome Powell should resign immediately if allegations that he misled Congress turn out to be true. Trump’s comment was made in front of reporters after a question about the Federal Reserve’s renovation project,

With the caveat that this is a low-probability event, we discuss what the implications of an early departure of Powell would mean for Treasuries and the dollar. We assume that an early departure of Powell would be followed quickly by a replacement super-dove as head of the Federal Reserve.

President Trump’s public demand for Powell’s resignation has ignited fears of a brewing crisis at the Fed, sending crypto investors into high alert.

Treasury Secretary Scott Bessent says he "will go where the president thinks" he's "best suited" to serve, as calls grow for the Fed's Jerome Powell to resign.

What Happened: The odds for the betting contract titled "Will Trump remove Jerome Powell in 2025?" remained unchanged at 12%, despite strong speculation on X regarding his resignation.

The Euro (EUR) posts minimal losses of 0.08% against the US Dollar (USD), trading below the 1.1800 figure on Wednesday. A worse-than-expected US jobs report increased speculation ... -Stocks are lower early The dollar rebounds -Nonfarm payrolls due out tomorrow Bob Iaccino has more.

In his testimony before the U.S. House of Representatives and Senate this week, Federal Reserve Chairman Jerome Powell at times found himself on the defensive regarding the Fed’s immobility in making any rate cuts to the federal funds rates the first half of this year.