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French Official Warns Firing Powell Hurts Dollar Credibility

Solomon M. by Solomon M.
April 20, 2025
in Latest News
Key Points:

  • Eric Lombard warns against firing Jerome Powell.
  • Dollar credibility and market stability at risk.
  • Potential implications for financial and crypto sectors.

french-official-warns-firing-powell-hurts-dollar-credibility
French Official Warns Firing Powell Hurts Dollar Credibility

Eric Lombard’s warning about Jerome Powell’s potential dismissal by Trump highlights concerns about market stability and dollar credibility, prompting investor anxiety.

Eric Lombard

Eric Lombard, French Finance Minister, warned that firing Jerome Powell could harm the dollar’s credibility. Donald Trump has criticized Powell, indicating he wants him ousted quickly. The financial community expresses unease over potential instability.

Market reactions to Trump’s threats include investor anxiety and increased volatility. Breaking central bank independence tradition could destabilize the dollar and US markets, affecting international economic dynamics and triggering higher borrowing costs.

Higher debt repayment and market disorganization are potential consequences of Powell’s dismissal. Experts fear negotiations to restore stability might be necessary, impacting US fiscal strategies and possibly increasing tensions with global partners.

“Donald Trump has hurt the credibility of the dollar with his aggressive moves on tariffs, for a long time. If Powell is pushed out, this credibility will be harmed even more, with developments in the bond market. … [T]he result of Powell’s dismissal would be higher debt repayment costs and severe confusion in the national economy, consequences that will eventually force the United States to negotiate to end the tension.” – Eric Lombard, French Finance Minister, La Tribune Dimanche

Historically, threats to Federal Reserve independence lead to volatility in financial and crypto markets. Digital assets like BTC and ETH often see price spikes during periods of investor uncertainty, reflecting the search for hedges against fiat instability.

Potential consequences for the crypto sector arise from these political tensions. Regulatory shifts may follow, increasing volatility, affecting crypto prices, and garnering global investor focus. This situation underscores how macro policies impact diverse financial markets.

Previous Post

South Korea Accepts Trump-Era Tariffs: Crypto Markets React

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Trump Threatens Powell Ouster, Sparking Market Concerns

Solomon M.

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