Powell OUT, Warsh IN as Fed Chairman SOON!

[Cryptomultiplier]

Trump is a bit of a brute and doesn't understand macroeconomics.

Higher rates were a hedge against inflation. There's many inflationary effects like oil prices as a direct result of the trump administration's actions right now.

If the FED lowers rates now, what is it going to help with?
The markets already performed very well with high rates.
Businesses kept having high profits in spite of inflation and the economy didn't collapse.

Does he think if rates are lowered now it's going to do any good?
I'm almost certain it was pointless to vote Powell out. Already he was very moderate.

There will be no point to see the S&P grow even more if a growing number of consumers have maxed their possible spending on basic goods and can't save at all. But I guess that's what they're rooting for now.

Lowering interest rates is a financial tool for stimulating entrepreneurial activity. However, this tool usually works very poorly (I'll explain in more detail below). 🙋

That is, it's a last resort, used when the economy has already accumulated enormous problems. Unemployment is high, no one wants to start new production... At this point, the temptation arises to offer cheap, practically free loans. This gives a chance to losers (bad entrepreneurs who have long wanted to start their own business but were afraid, realizing they lack the necessary skills). And if the loan is practically free, then they can overcome their fear and take a risk... But can losers create a truly strong economy?

This is precisely why interest rate cuts by the Federal Reserve usually work so poorly. Because they are applied to an already troubled economy!

In the US, in my opinion, there is currently no reason to lower the Fed rate (other than the problem of servicing the enormous national debt).  Unemployment in the country is low, oil prices are high, and there are no resources to create new industries...

The only logical reason for low interest rates now, in my opinion, is the illusory hope of devaluing the national debt through high inflation. Perhaps this is exactly what Donald Trump wants. But this is an incredibly dangerous gamble... In my opinion, it could lead to a complete abandonment of the US dollar both in the US and around the world. 🤷

That "complete abandonment" of the U.S. Dollar won't happen overnight though, no? It will probably take DECADES before it's actually "safe" for big economies like China and Japan to stop using the U.S. Dollar entirely.

The WHOLE Economic World System depends on it, and because Game Theory applies, even China doesn't want the Dollar system to fail.

At least three major economies (China, the European Union, and Russia) are currently preparing to transition to central bank digital currencies (CBDCs). 🙋

The United States is taking a different path. They are legalizing stablecoins, which require the creation of reserves, including bank Treasury bonds and US dollars. Essentially, these are the same fiat money, but with their own characteristics.

Will this system collapse instantly if inflation starts to accelerate? I don't think so. Although, when it comes to complex systems, anything is possible... They can exist for decades or centuries, and then suddenly collapse for no apparent reason.

I believe that since stablecoins are closely tied to Bitcoin, the price of Bitcoin will rise rapidly as inflation rises. This will eliminate the need to worry about the depreciation of the US dollar and stablecoins. Consumer markets will be sufficiently protected from inflation. On the other hand, many countries are moving away from the US dollar.  And this is also a fact.

I'm not entirely sure what your point is, but none of those countries, including those countries in the European Union would want to U.S. Dollar to collapse. It's simply too useful for their economies.

Will they actually want to abandon it and kill their economies?

If you all talking about de-dollarization, it is still a work in the making and could take years to accomplish because almost every country of the world depend on the dollar and removing that without an already prepared backup currency like the BRICs currency or the crypto currency we are talking about here, won't just happen overnight.

Good thing that Kevin Warsh has officially been confirmed as the 17th Chairman of the federal reserve, I wonder that only one person has control as chairman of the federal reserve for central bank and cryptocurrency? Because how come he's the 17th if it is only as chairman of the crypto currency reserve banks which is distinct from the traditional central control bank.

One thing I know is that Kevin Warsh would have to sell off all his cryptocurrency holdings so as he doesn't get to make a biased decision as chairman, despite his vast technical knowledge of the crypto currencies world, why should someone be giving up their freedom of self sovereignty with cryptocurrencies asset across some major class worth almost $100 million, and despite the fact that he views Bitcoin as  digital gold and a policy watchdog by his own understanding.

I bet Michael Saylor of microstrategy won't just sell off all his Bitcoin and other cryptocurrency he has acquired in all these years because he believes in the potential of Bitcoin, for one government position that watches his every move and decisions.

[Smartprofit]

I think CBDC proponents want to create their own system of international financial settlements, independent of the US dollar (as the global reserve currency). It's just a very complex and lengthy process. 🙋

And you're absolutely right when you say it could take decades. First, CBDCs must be fully implemented in these countries. Only then can their central banks begin to consider unifying the international use of central bank digital currencies. It's a long process.

At the same time, the very creation of a CBDC precludes preserving the invariability of the US dollar. The old financial system based on the US dollar is crumbling before our eyes. Why is this happening? The point is that once the technology is created, you are forced to implement it, otherwise you will begin to lag behind the leaders of civilization. This is precisely why the US is now legalizing stablecoins.

So, the answer to your question is yes, the US dollar will gradually lose its position, while American stablecoins will gain wider adoption.  For example, Iran is already actively using USDT to collect fees for ships passing through the Strait of Hormuz. This seems surprising.

[justdimin]

I think CBDC proponents want to create their own system of international financial settlements, independent of the US dollar (as the global reserve currency). It's just a very complex and lengthy process. 🙋

And you're absolutely right when you say it could take decades. First, CBDCs must be fully implemented in these countries. Only then can their central banks begin to consider unifying the international use of central bank digital currencies. It's a long process.

At the same time, the very creation of a CBDC precludes preserving the invariability of the US dollar. The old financial system based on the US dollar is crumbling before our eyes. Why is this happening? The point is that once the technology is created, you are forced to implement it, otherwise you will begin to lag behind the leaders of civilization. This is precisely why the US is now legalizing stablecoins.

So, the answer to your question is yes, the US dollar will gradually lose its position, while American stablecoins will gain wider adoption.  For example, Iran is already actively using USDT to collect fees for ships passing through the Strait of Hormuz. This seems surprising.

They are not going to just stand and wait around for decades, they will do some other stuff while doing CDBC as well. But it is clear that the world is tired of the USD market covering the whole world and the yare selling it from their treasury as well.

Bitcoin in fact even plays a good role in this, there are many nations who sell their dollars and get bitcoin instead, not a lot, just a few thousand for now, so a small number, but in the end, all of the nations how had huge dollar number in their treasury is looking for a way to get out because dollar has been devalued way too much, and they have way too much debt for the future which makes it look like not a good idea to keep it for now. If USA gets better in near future, maybe it will go back, but right now it looks bad.

[STT]

Stable coins are usually dollar biased or dollar based, hence it makes good sense for USA to back that phenomena and other major blocks such as EU or China to favor alternate implementations with less dollar bias.
  Someone suggested recently that the stable coin usage rising is a back door entry for many minor countries' economies towards greater reliance on Dollar and I had not thought of it like that previously but seems a fair take.  Even though dollar itself has falling value, the wider world has plenty of struggling economies where the people would benefit from stronger currency, BTC gains from that being true and the stable coins accelerate the acceptance of crypto in the common population generally by being more recognizable.

Stablecoins are the biggest expansion of US monetary influence since Bretton Woods

[Abiky]

Stable coins are usually dollar biased or dollar based, hence it makes good sense for USA to back that phenomena and other major blocks such as EU or China to favor alternate implementations with less dollar bias.
  Someone suggested recently that the stable coin usage rising is a back door entry for many minor countries' economies towards greater reliance on Dollar and I had not thought of it like that previously but seems a fair take.  Even though dollar itself has falling value, the wider world has plenty of struggling economies where the people would benefit from stronger currency, BTC gains from that being true and the stable coins accelerate the acceptance of crypto in the common population generally by being more recognizable.

Like I've said many times before, USD-backed stablecoins will become the "defacto" digital dollar of the US. There's really no need to reinvent the wheel by making a CBDC from scratch. This has been the plan from the start, ever since Trump came back into power. It might work, effectively putting "de-dollarization" efforts in vain. Nothing that will harm the strength of the USD for quite some time.

Unless, the new FED chairman decides to play Trump's game by cutting back rates. With inflation rising in the US, doing such a thing will "nuke" the American economy. At least we have Bitcoin. Much better than plain-old Fiat.

[DanWalker]

Stable coins are usually dollar biased or dollar based, hence it makes good sense for USA to back that phenomena and other major blocks such as EU or China to favor alternate implementations with less dollar bias.
  Someone suggested recently that the stable coin usage rising is a back door entry for many minor countries' economies towards greater reliance on Dollar and I had not thought of it like that previously but seems a fair take.  Even though dollar itself has falling value, the wider world has plenty of struggling economies where the people would benefit from stronger currency, BTC gains from that being true and the stable coins accelerate the acceptance of crypto in the common population generally by being more recognizable.

Stablecoins are the biggest expansion of US monetary influence since Bretton Woods

That's why the US Congress has many disagreements about crypto, but when it comes to legalizing stablecoins, most members of both parties share a common view. They all recognized that this would benefit the financial system and the position of the USD.
That is why the GENIUS Act was passed quickly without any obstacles. Unlike the Bitcoin reserve bill or the CLARITY Act for the crypto industry, which are still under debate and votes.

Stablecoins are a new card the US is using to maintain the dominance of the USD.

[Wind_FURY]

Trump is a bit of a brute and doesn't understand macroeconomics.

Higher rates were a hedge against inflation. There's many inflationary effects like oil prices as a direct result of the trump administration's actions right now.

If the FED lowers rates now, what is it going to help with?
The markets already performed very well with high rates.
Businesses kept having high profits in spite of inflation and the economy didn't collapse.

Does he think if rates are lowered now it's going to do any good?
I'm almost certain it was pointless to vote Powell out. Already he was very moderate.

There will be no point to see the S&P grow even more if a growing number of consumers have maxed their possible spending on basic goods and can't save at all. But I guess that's what they're rooting for now.

Lowering interest rates is a financial tool for stimulating entrepreneurial activity. However, this tool usually works very poorly (I'll explain in more detail below). 🙋

That is, it's a last resort, used when the economy has already accumulated enormous problems. Unemployment is high, no one wants to start new production... At this point, the temptation arises to offer cheap, practically free loans. This gives a chance to losers (bad entrepreneurs who have long wanted to start their own business but were afraid, realizing they lack the necessary skills). And if the loan is practically free, then they can overcome their fear and take a risk... But can losers create a truly strong economy?

This is precisely why interest rate cuts by the Federal Reserve usually work so poorly. Because they are applied to an already troubled economy!

In the US, in my opinion, there is currently no reason to lower the Fed rate (other than the problem of servicing the enormous national debt).  Unemployment in the country is low, oil prices are high, and there are no resources to create new industries...

The only logical reason for low interest rates now, in my opinion, is the illusory hope of devaluing the national debt through high inflation. Perhaps this is exactly what Donald Trump wants. But this is an incredibly dangerous gamble... In my opinion, it could lead to a complete abandonment of the US dollar both in the US and around the world. 🤷

That "complete abandonment" of the U.S. Dollar won't happen overnight though, no? It will probably take DECADES before it's actually "safe" for big economies like China and Japan to stop using the U.S. Dollar entirely.

The WHOLE Economic World System depends on it, and because Game Theory applies, even China doesn't want the Dollar system to fail.

At least three major economies (China, the European Union, and Russia) are currently preparing to transition to central bank digital currencies (CBDCs). 🙋

The United States is taking a different path. They are legalizing stablecoins, which require the creation of reserves, including bank Treasury bonds and US dollars. Essentially, these are the same fiat money, but with their own characteristics.

Will this system collapse instantly if inflation starts to accelerate? I don't think so. Although, when it comes to complex systems, anything is possible... They can exist for decades or centuries, and then suddenly collapse for no apparent reason.

I believe that since stablecoins are closely tied to Bitcoin, the price of Bitcoin will rise rapidly as inflation rises. This will eliminate the need to worry about the depreciation of the US dollar and stablecoins. Consumer markets will be sufficiently protected from inflation. On the other hand, many countries are moving away from the US dollar.  And this is also a fact.

I'm not entirely sure what your point is, but none of those countries, including those countries in the European Union would want to U.S. Dollar to collapse. It's simply too useful for their economies.

Will they actually want to abandon it and kill their economies?

If you all talking about de-dollarization, it is still a work in the making and could take years to accomplish because almost every country of the world depend on the dollar and removing that without an already prepared backup currency like the BRICs currency or the crypto currency we are talking about here, won't just happen overnight.

Good thing that Kevin Warsh has officially been confirmed as the 17th Chairman of the federal reserve, I wonder that only one person has control as chairman of the federal reserve for central bank and cryptocurrency? Because how come he's the 17th if it is only as chairman of the crypto currency reserve banks which is distinct from the traditional central control bank.

One thing I know is that Kevin Warsh would have to sell off all his cryptocurrency holdings so as he doesn't get to make a biased decision as chairman, despite his vast technical knowledge of the crypto currencies world, why should someone be giving up their freedom of self sovereignty with cryptocurrencies asset across some major class worth almost $100 million, and despite the fact that he views Bitcoin as  digital gold and a policy watchdog by his own understanding.

I bet Michael Saylor of microstrategy won't just sell off all his Bitcoin and other cryptocurrency he has acquired in all these years because he believes in the potential of Bitcoin, for one government position that watches his every move and decisions.

It's definitely NOT going to be "years". It's going to take DECADES or probably at least a CENTURY before the U.S. Dollar could be wiped out absolutely out of its dominance.

Why?

They still have the most powerful military in the world. There's a conspiracy theory that the U.S. started a war in the Middle East to cause instability because OPEC is starting to accept Yuan for Crude Oil sales.

[DrBeer]

This person’s arrival COULD have a positive impact on the crypto market as a whole, following the Trump administration’s controversial market manipulations.
His key positions on cryptocurrencies also sound very positive:

- Bitcoin as "digital gold": Warsh has repeatedly stated that for people under 40, Bitcoin has become a full-fledged substitute for traditional gold and a stable store of value.

-An indicator for the Fed: He considers BTC an "excellent policy cop" and a macro signal.
In his view, Bitcoin’s growth signals to regulators when their monetary policy is veering off course and fueling inflation.

- Opponent of CBDCs: Warsh is categorically opposed to the creation of a government-issued digital currency (digital dollar), viewing it as a threat to privacy and a tool of control. Instead, he supports the development of private stablecoins.

- Skepticism toward meme coins: While showing a deep interest in DeFi and Web3 technologies, Warsh is skeptical of high-risk speculative tokens (meme coins), calling many of them useless

In summary-we hope for SYSTEMIC changes that are positive for the crypto market

[Wind_FURY]

This person’s arrival COULD have a positive impact on the crypto market as a whole, following the Trump administration’s controversial market manipulations.
His key positions on cryptocurrencies also sound very positive:

- Bitcoin as "digital gold": Warsh has repeatedly stated that for people under 40, Bitcoin has become a full-fledged substitute for traditional gold and a stable store of value.

-An indicator for the Fed: He considers BTC an "excellent policy cop" and a macro signal.
In his view, Bitcoin’s growth signals to regulators when their monetary policy is veering off course and fueling inflation.

- Opponent of CBDCs: Warsh is categorically opposed to the creation of a government-issued digital currency (digital dollar), viewing it as a threat to privacy and a tool of control. Instead, he supports the development of private stablecoins.

- Skepticism toward meme coins: While showing a deep interest in DeFi and Web3 technologies, Warsh is skeptical of high-risk speculative tokens (meme coins), calling many of them useless

In summary-we hope for SYSTEMIC changes that are positive for the crypto market

Plus if he's a corrupt entity, which I believe most people close to Trump are, then he could buy Bitcoin, and tell his friends to also buy Bitcoin, before announcing that the money printer will be switched ON.

If the price will go through weird, unexplainable "mini-surges", then the pivot to Q.E. might be close.

  👀

[DrBeer]

This person’s arrival COULD have a positive impact on the crypto market as a whole, following the Trump administration’s controversial market manipulations.
His key positions on cryptocurrencies also sound very positive:

- Bitcoin as "digital gold": Warsh has repeatedly stated that for people under 40, Bitcoin has become a full-fledged substitute for traditional gold and a stable store of value.

-An indicator for the Fed: He considers BTC an "excellent policy cop" and a macro signal.
In his view, Bitcoin’s growth signals to regulators when their monetary policy is veering off course and fueling inflation.

- Opponent of CBDCs: Warsh is categorically opposed to the creation of a government-issued digital currency (digital dollar), viewing it as a threat to privacy and a tool of control. Instead, he supports the development of private stablecoins.

- Skepticism toward meme coins: While showing a deep interest in DeFi and Web3 technologies, Warsh is skeptical of high-risk speculative tokens (meme coins), calling many of them useless

In summary-we hope for SYSTEMIC changes that are positive for the crypto market

Plus if he's a corrupt entity, which I believe most people close to Trump are, then he could buy Bitcoin, and tell his friends to also buy Bitcoin, before announcing that the money printer will be switched ON.

If the price will go through weird, unexplainable "mini-surges", then the pivot to Q.E. might be close.

  👀

Yes, unfortunately, Trump and his inner circle can hardly be called "crystal clear" or even "reasonably honest" And someone like that really does seem "unusual". But! The Fed is now headed by someone who shouldn’t continue the Fed’s confrontation with cryptocurrencies or "crush" them. All we can do is hope and watch to see what happens in the near future!

[FanEagle]

Nothing major happened yet, we are talking about just guesses based on the personality of someone but that doesn't mean that we have seen anything. Plus while Warsh is not a "politician" he was elected by a politician, the worst kind, Trump and that means that he will probably do whatever trump wants and Trump is the type of dude who could get up one morning and tweet how much e loves bitcoin and should buy more, and another morning wake up and say that bitcoin is a scam.

He has no brain at all, he is running on full on moron and this means that anything could happen. This is why trying to come up with something to say about Wars based on what we are seeing from him makes no sense since anything could happen and just because we made some predictions doesn't mean it will come true.

[Wind_FURY]

This person’s arrival COULD have a positive impact on the crypto market as a whole, following the Trump administration’s controversial market manipulations.
His key positions on cryptocurrencies also sound very positive:

- Bitcoin as "digital gold": Warsh has repeatedly stated that for people under 40, Bitcoin has become a full-fledged substitute for traditional gold and a stable store of value.

-An indicator for the Fed: He considers BTC an "excellent policy cop" and a macro signal.
In his view, Bitcoin’s growth signals to regulators when their monetary policy is veering off course and fueling inflation.

- Opponent of CBDCs: Warsh is categorically opposed to the creation of a government-issued digital currency (digital dollar), viewing it as a threat to privacy and a tool of control. Instead, he supports the development of private stablecoins.

- Skepticism toward meme coins: While showing a deep interest in DeFi and Web3 technologies, Warsh is skeptical of high-risk speculative tokens (meme coins), calling many of them useless

In summary-we hope for SYSTEMIC changes that are positive for the crypto market

Plus if he's a corrupt entity, which I believe most people close to Trump are, then he could buy Bitcoin, and tell his friends to also buy Bitcoin, before announcing that the money printer will be switched ON.

If the price will go through weird, unexplainable "mini-surges", then the pivot to Q.E. might be close.

  👀

Yes, unfortunately, Trump and his inner circle can hardly be called "crystal clear" or even "reasonably honest" And someone like that really does seem "unusual". But! The Fed is now headed by someone who shouldn’t continue the Fed’s confrontation with cryptocurrencies or "crush" them. All we can do is hope and watch to see what happens in the near future!

There was an X post claiming that Kevin Warsh said, "Bitcoin is the new Gold", or something like that sentence. Bitcoin is probably going to resume the same sort of surges it had during the 2016 - 2017 and 2020 - 2021 Bull Cycles, no?

 

Let a PLEB like me Hope.

[Abiky]

That's why the US Congress has many disagreements about crypto, but when it comes to legalizing stablecoins, most members of both parties share a common view. They all recognized that this would benefit the financial system and the position of the USD.
That is why the GENIUS Act was passed quickly without any obstacles. Unlike the Bitcoin reserve bill or the CLARITY Act for the crypto industry, which are still under debate and votes.

Stablecoins are a new card the US is using to maintain the dominance of the USD.

That might be true, although more countries are inclined to move away from the USD. Especially with America's uncertain policies. Trump's Iran war, has caused oil prices to rise while making the USD stronger. The "petrodollar's" days are numbered. Once countries find a viable alternative to oil, the USD will lose relevance in the mainstream world. As simple as that.

Imagine if the new FED chairman decides to cut rates, while inflation continues to rise due to elevated oil prices. It will completely destroy the American economy. The future is unpredicable, so anything's possible.

[Wind_FURY]

That's why the US Congress has many disagreements about crypto, but when it comes to legalizing stablecoins, most members of both parties share a common view. They all recognized that this would benefit the financial system and the position of the USD.
That is why the GENIUS Act was passed quickly without any obstacles. Unlike the Bitcoin reserve bill or the CLARITY Act for the crypto industry, which are still under debate and votes.

Stablecoins are a new card the US is using to maintain the dominance of the USD.

That might be true, although more countries are inclined to move away from the USD. Especially with America's uncertain policies. Trump's Iran war, has caused oil prices to rise while making the USD stronger. The "petrodollar's" days are numbered. Once countries find a viable alternative to oil, the USD will lose relevance in the mainstream world. As simple as that.

Imagine if the new FED chairman decides to cut rates, while inflation continues to rise due to elevated oil prices. It will completely destroy the American economy. The future is unpredicable, so anything's possible.

Do you actually believe that ANY Federal Reserve Chairman will be stupid enough to actually do that?

 ¯\_(ツ)_/¯

No one wants to destroy the U.S. Economy, no? Because that would mean that it would also destroy the GLOBAL economy, especially China which is dependent on the U.S. consumers.

[2stout]

Do you actually believe that ANY Federal Reserve Chairman will be stupid enough to actually do that?

 ¯\_(ツ)_/¯

No one wants to destroy the U.S. Economy, no? Because that would mean that it would also destroy the GLOBAL economy, especially China which is dependent on the U.S. consumers.

Actually, I do believe a Federal Reserve Chairman would be stupid enough to actually do that if they are a totally subservient yes man- many in this administration are, guess we'll see.  The president already made it clear he will burn it all down to rule over the ashes and is hoping his nominee will be a lackey, moving in lock step.

[DanWalker]

Actually, I do believe a Federal Reserve Chairman would be stupid enough to actually do that if they are a totally subservient yes man- many in this administration are, guess we'll see.  The president already made it clear he will burn it all down to rule over the ashes and is hoping his nominee will be a lackey, moving in lock step.

The Chair hold significant power, but that power is not absolute. He cannot arbitrarily decide on interest rates, nor can they print money at will simply to serve the government interests. Therefore, even if he were manipulated by Trump, what he could do would still be limited by the FOMC's voting mechanism and legal constraints.

A Fed Chair who answers to Trump cant turn the Fed into Trump's political tool. Dont forget that power in the US is based on the separation of powers.

[Wind_FURY]

Do you actually believe that ANY Federal Reserve Chairman will be stupid enough to actually do that?

 ¯\_(ツ)_/¯

No one wants to destroy the U.S. Economy, no? Because that would mean that it would also destroy the GLOBAL economy, especially China which is dependent on the U.S. consumers.

Actually, I do believe a Federal Reserve Chairman would be stupid enough to actually do that if they are a totally subservient yes man- many in this administration are, guess we'll see.  The president already made it clear he will burn it all down to rule over the ashes and is hoping his nominee will be a lackey, moving in lock step.

That's your opinion. BUT even with its imperfections, the Federal Reserve has two main mandates, which are to stabilize prices and to maximize employment.

Lackey or not, any Federal Reserve Chairman who doesn't follow those mandates can be removed by the President himself because it's "with cause".

[BlackHatCoiner]

Actually he's already past the candidate stage. Senate confirmed him in a 54-45 vote, and he officially takes over when Powell's chair term ends May 15. So this is basically done.

On the crypto angle, it's disclosed he's shown exposure to crypto names like Polymarket and a couple others, but I haven't seen anything confirming he personally holds BTC.

[Wind_FURY]

Actually he's already past the candidate stage. Senate confirmed him in a 54-45 vote, and he officially takes over when Powell's chair term ends May 15. So this is basically done.

On the crypto angle, it's disclosed he's shown exposure to crypto names like Polymarket and a couple others, but I haven't seen anything confirming he personally holds BTC.

I'm very confident that if a person knows about Polymarket, then that person has a very high probability that he/she CURRENTLY owns Bitcoin, or HAS owned Bitcoin, or WILL own Bitcoin in the future.

Bitcoin's price didn't surge to its current price point without a wider population of HODLers.

[Smack That Ace]

On the crypto angle, it's disclosed he's shown exposure to crypto names like Polymarket and a couple others, but I haven't seen anything confirming he personally holds BTC.

There are reports that he has invested in and held various crypto. But like his predecessors, he also pledged to divest from most of these investments after taking office as Fed Chair, as required by federal ethics rules to avoid conflicts of interest. So, whether he invests in bitcoin or not is no longer important.

He need to remain neutral in his role as Fed Chair to ensure his monetary policy decisions are not influenced by personal financial interests and to maintain the Fed independence.


https://finance.yahoo.com/markets/crypto/articles/fed-chair-nominee-kevin-warsh-205700461.html