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Breaking bombshell! Fed Chair Powell is officially in the crosshairs! On February 2nd, Trump made it clear from the White House 💢 that the investigation into Powell must go all the way 🔍 to uncover the full truth behind the Fed building renovation scandal!
This probe has been brewing since January, when the Justice Department launched a criminal investigation 🔎. While White House economic advisor Hassett downplayed the odds of major findings, he still called on the Fed for more transparency 💡. The spark? The Fed building renovation, approved in 2017, saw its budget balloon from $1.9B to $2.5B 💸. Trump slammed the actual cost at $3.1B 💥, slamming it as lavish upgrades, while the Fed blamed rising costs and asbestos removal.
The core clash? Rate cuts! Since returning to the White House, Trump has relentlessly pushed for aggressive Fed rate cuts to boost the economy and lower debt costs 📉, but Powell has refused to comply 🙅♂️, facing repeated resignation calls. Crucially, Powell’s term ends in May ⏳. Trump already tapped his successor: on January 30th, he nominated Kevin Warsh—once a hawk, now aligned with Trump’s tariff and rate-cut views—pending Senate approval ✅. Warsh was a 2017 finalist for the Fed top job; now he’s poised to take the reins. A massive Fed power shift ⚡ is coming—monetary policy is set to flip, and financial markets are in for wild swings!$BTC