US President Donald TrumpMember of the Federal Reserve Board of Governors, months before current Fed Chairman Jerome Powell’s term ends Christopher WallerHe began to consider him as one of the new presidential candidates. The Wall Street JournalAccording to the news, the meeting will take place on Wednesday and Waller stands out as one of the five candidates Trump is considering.
Cryptocurrency-Friendly Fed Member
Trump in 2020 Fed Waller, whom he appointed to the management, is known for his positive statements about the future of digital finance. Waller argued that stablecoins and decentralized finance (DeFi), in particular, are new forms of private money, stating that these technologies can coexist with traditional payment systems. In his speech at the Fed Payments Innovation Conference held in October, his words, “The DeFi industry should no longer be viewed with suspicion, but as an opportunity,” attracted attention.
Waller’s past statements had a wide impact in the cryptocurrency world. President of BitMine, known for its Ethereum treasure Tom Leea new Fed chairman especially like Waller cryptocurrency He said that if there is a friendly name, a more dovish central bank tone will occur and this may indicate a direction-changing period for the cryptocurrency market.
Trump’s New Fed Strategy: Dovishness and Rapid Interest Rate Cuts
The differences of opinion between Trump and current Fed Chairman Powell have been reflected in the public for a long time. Powell, last three Federal Open Market Committee At the (FOMC) meeting, it reduced interest rates sequentially and brought the rates to the range of 3.50-3.75 percent. However, Trump finds these interest rate cuts insufficient and argues that interest rates should be reduced below 1 percent.
Waller is known as one of the strongest advocates of interest rate cuts within the Fed. According to the WSJ, Wall Street circles consider him a technocrat who can produce logical and balanced arguments and also has the ability to manage internal differences. Still, his personal ties with Trump are weak. Kevin Hassett And Kevin Warsh It may create an obstacle to names such as: According to Polymarket data, Waller’s appointment probability is around 15 percent. Hassett is the favorite with 52 percent.
Secretary of the Treasury Scott Bessentannounced that Trump is expected to announce his final choice next month, and Powell’s term will end in May next year.
