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trump

Trump's pressure on the Federal Reserve is "counterproductive," hawkish candidate Walsh overtakes Hassett in winning chances

After the U.S. Department of Justice launched an investigation into Federal Reserve Chairman Powell, the situation began to change in a direction contrary to Trump's expectations. The probability of Powell remaining in his position until 2028 after his term ends in May has started to rise, while the chances of the more hawkish candidate for the next chairman, Warsh, have begun to surpass those of Hassett. Trump may find himself in a year-long game with the Federal Reserve.Polymarket data shows that shortly after Powell released a video responding to the investigation on January 11, the probability of him leaving the Federal Reserve Board by the end of May and by the end of the year both plummeted. Currently, bettors believe the probability of Powell leaving the Federal Reserve by May 30 has dropped from 74% earlier this month to 45%, and the probability of him stepping down by the end of the year has decreased from 85% to 62%.The prediction market has also adjusted its expectations for Trump's ally Kevin Hassett being nominated to succeed Powell as Federal Reserve chairman. Before and after the news of the U.S. Department of Justice investigation broke, the more hawkish candidate Kevin Warsh began to gain support over Hassett in Polymarket.Policy analyst Dan Clifton stated that since last summer, there has been an informal agreement between Trump and Powell—if Powell agrees to leave the Federal Reserve when his term ends in May, Trump would not challenge the Federal Reserve's multi-billion dollar renovation project. Trump had previously harshly criticized the renovation plan, but his criticism of the Federal Reserve has diminished in the second half of last year. This bottom line was broken last Sunday, making it more likely for Powell to remain at the Federal Reserve as an ordinary board member. By continuously attacking Powell personally, it is likely to end up being a futile effort.

Cardano founder questions the progress of the "CLARITY Act" and urges the Trump administration's "crypto czar" to resign

According to Cryptopolitan, Cardano founder Charles Hoskinson expressed skepticism in an interview about the U.S. "Digital Asset Market Clarity Act (CLARITY Act)" passing in the first quarter of 2026, and called for David Sacks, the Trump administration's head of cryptocurrency affairs, to resign. Hoskinson pointed out that since Sacks took office at the end of 2024, cryptocurrency prices have fallen, regulatory clarity has been lacking, and the industry has failed to establish a solid foundation for development.He believes that if the bill does not pass this quarter, Sacks should resign, stating that he has "let the entire industry down." Hoskinson also mentioned that if the Democrats regain control of the House in the midterm elections in November, the bill will be even less likely to pass. He criticized the current U.S. cryptocurrency policy for favoring large financial institutions over retail investors, centralizing the industry around Wall Street firms like BlackRock, Goldman Sachs, and Morgan Stanley.Additionally, Hoskinson reiterated that Trump-related cryptocurrency projects have caused market confusion, emphasizing that cryptocurrencies should remain global and neutral, rather than being nationalized or politicized. He advocates for the U.S. to establish enduring and non-restrictive cryptocurrency regulations, even if it takes longer.
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