[Breaking News]: Trump will announce his nominee for the next Federal Reserve Chairman on January 30th, succeeding Powell (whose term ends in May).
The announcement of the new Fed Chairman will likely favor interest rate cuts and quantitative easing, a huge boon for crypto! Could the crypto market see a surge?
This is a major positive signal for the crypto community and the world: Trump has consistently criticized high interest rates as dragging down the economy, and his nominee is likely to be more "dovish" (prone to interest rate cuts and quantitative easing). The market is already betting on even looser monetary policy.
Once the announcement (especially if it's a top candidate like Kevin Warsh, considered the most dovish), risk assets like Bitcoin and Ethereum could see a short-term surge, with US stocks also taking off. A weaker dollar would benefit gold and crypto.
Keep an eye on news between 10 AM and 12 PM Beijing time.