If you thought the saga of Jerome Powell’s Fed Chairmanship was going to end in a dramatic firing worthy of reality TV, well, surprise: the odds just took a nosedive—down to 14%. Polymarket, that charming betting ring for financial masochists, has sliced Powell’s removal chances by 9 percentage points in a single day. Why the sudden optimism? Because Donald Trump decided to play nice. Or, you know, scenic detours are part of his art.
Yes, the same guy who once suggested the Fed Chair needed to “do a better job” is now waving a flag of faux support: “No intention” of firing Powell, Trump assures us. Though he does wistfully wish Powell would get “a little more active” with rate cuts, like maybe Powell is just lazy or needs some motivational coffee. Apparently, the “Great Fed Shakeup” was just another rumor that got caught in the Twitter storm, a brief flirtation with chaos before the calm.
Just last week, whispered rumors and Treasury Secretary Scott Bessent’s cryptic comments had everyone in a frenzy about potential replacements. But like a soap opera plot twist, Trump’s administration decided to keep their hands firmly on the wheel—for now. The real drama? The constant tug-of-war between Powell’s cautious hand and Trump’s tariff-fueled impatience. Imagine a parent telling a toddler, “Slow down,” while the toddler gleefully crashes the shopping cart into every aisle.
Meanwhile, Powell’s been sticking to his guns, revising down the economic outlook and refusing to cut rates like some Wall Street version of the boy who cried wolf—except this wolf is inflation. Polymarket’s betting odds now reflect not just fear, but a tepid faith in Powell’s ability to stick around without causing the financial equivalent of a midlife crisis.
Cryptocurrency enthusiasts spotted the calm breeze and ran with it. Bitcoin shot past $93,000, probably fueled by a cocktail of relief and FOMO. The Crypto Fear and Greed Index tiptoed into “Greed” territory, clocking a 25-point jump to 72, as if investors suddenly decided that “hold my beer” was the market’s unofficial motto.
With 13 months left on Powell’s Fed chair term, Trump’s newfound nice-guy act has sprinkled a bit of sanity over what was looking like a reality show meltdown. Analysts say we’ll need more of this White House clarity to keep the markets from turning into a financial roller coaster, which honestly sounds exhausting. But hey, no one ever said central banking was boring.
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2025-04-23 13:13