Treasury Secretary Bessent Signals Fed Shake-Up

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News Date: April 18, 2025

💥 June 30, 2025: Scott Bessent says the White House is actively working to select Jerome Powell's replacement in the coming weeks. When asked about stepping into the role himself, Bessent said: “I will do what the President wants.”
🏛 June 27, 2025: President Trump calls for Fed Chair Jerome Powell to resign. Trump: I'd love for him to resign… He’s done a lousy job.
🏦 June 25, 2025: President Trump has begun interviewing candidates to replace Federal Reserve Chair Jerome Powell. "I know within three or four people who I’m going to pick," he stated Wednesday.
🏛️ June 21, 2025: Trump posted: maybe, I’ll have to change my mind about firing him? But regardless, his Term ends shortly!
🏛️ June 18, 2025: President Trump ramps up attacks on Fed Chair Jerome Powell — and half-jokingly suggests appointing himself to lead the Federal Reserve. "I’d do a better job," he quipped, fueling speculation and headlines alike.
🏛️ June 7, 2025: President Donald Trump announced that a decision on the next Federal Reserve chair is coming “very soon.” Speaking aboard Air Force One, Trump reiterated his stance that a strong Fed leader would lower interest rates. Kevin Warsh is seen as the frontrunner, as Trump continues to criticize current Chair Jerome Powell’s rate policy.
May 20, 2025: A reported court ruling has sparked speculation that President Trump could have the authority to remove Federal Reserve Chair Jerome Powell, potentially paving the way for interest rate cuts. However, no official sources confirm this ruling, and legal protections under the Federal Reserve Act suggest Powell’s position remains secure absent misconduct. Stay tuned for verified updates!
President Donald Trump, who nominated Jerome Powell to lead the Federal Reserve in 2017, recently stated he has “no intention” of firing the central bank chair before his term ends in 2026. This marks a shift from Trump’s escalated rhetoric, where he hinted at the unprecedented step of ousting him over disagreements on interest rate policies. Trump’s push for lower rates to counter his tariff-driven economic agenda has clashed with Powell’s warnings of potential inflation and slower growth. Despite the de-escalation, which calmed markets, Trump’s continued pressure suggests the Fed’s independence remains under strain as he tests the limits of his influence.
Trump’s frustration centers on the Fed’s refusal to cut interest rates, which he says hinders growth.
Powell, whose term lasts until May 2026, has stressed the Fed’s independence. Removing him would require proving misconduct, a legal challenge no president has won. The move could test the Fed’s autonomy.

SCO to expand trade in national currencies

China-led SCO bloc agrees to expand trade in national currencies.
The leaders of the Shanghai Cooperation Organisation (SCO) agreed on Friday to take steps to increase the use of national currencies in trade between their countries, according to a joint declaration adopted on Friday.
Source: reuters.com

Waller confirmed to Fed Board. WH supports Shelton

By a completely partisan vote of 48 to 47 (though Rand Paul voted against), The Senate confirmed Trump nominee Christopher Waller to the Federal Reserve Board of Governors - filling one of the two vacant slots on the influential economic body.
The White House remains confident that Ms. Shelton will be confirmed and is fully supportive of her candidacy, a White House spokesman said Thursday.
Her beliefs:
- eliminating the Feds independence and federal deposit insurance
- returning the U.S. to a gold standard
Sources: www.forexlive.com, www.zerohedge.com

Patent for Blockchain-Based Secure-Voting System

Patent US20200258338:
A voting system can use the security of blockchain and the mail to provide a reliable voting system. A registered voter receives a computer readable code in the mail and confirms identity and confirms correct ballot information in an election. The system separates voter identification and votes to ensure vote anonymity, and stores votes on a distributed ledger in a blockchain.
Source:appft.uspto.gov

CEO of SVB exits the board of FED

CEO of Failed Silicon Valley Bank No Longer a Director at SF Fed.
The chief executive officer of failed Silicon Valley Bank, Greg Becker, is no longer on the board of directors at the Federal Reserve Bank of San Francisco.
The spokesperson declined to say how Becker exited the San Francisco Fed board.
(Reuters)

The largest package of tax cuts

President Donald Trump: We passed the largest package of tax cuts in American history, saving the average family of four over $5,000 a year.
Source:www.youtube.com