Jerome Powell is Getting Fired: Can Trump Legally Fire Fed Chair?

Jerome Powell Fired: Will Trump Fire Fed Chair During Crypto Week?

Jerome Powell, the current Federal Reserve Chair, is suddenly in the spotlight after U.S. Congresswoman Anna Paulina Luna posted a bold claim on social media. She said from a “very serious source” that Fed Chair is getting fired, and she’s “99% sure” it’s happening soon.

Source: X

This shocking news comes right in the middle of Crypto Week, a time when Congress is discussing key bills that could shape the future of digital finance in the U.S. Many are now asking: “Will Jerome Powell resign?”, or is this just political noise?

Will Jerome Powell Be Ousted During Crypto Week’s Political Drama?

The tension between Donald and Jerome is nothing new. Trump has openly demanded an immediate Fed rate cut, while his team wants to wait. As of now, the interest rates remain between 4.25% to 4.50%, and the latest Fed meeting minutes suggest only two rate cuts in 2025—not enough for Trump’s liking.

Some believe the pressure to fire him during Crypto Week is real. This week, Congress is reviewing the Crypto Bill, including the GENIUS Act, the Clarity Act, and the Anti-CBDC Bill. Many in the community feel he is not a strong supporter of these bills, though he did say recently that “it’s a great thing that bills are moving” and that the Fed supports innovation with safety.

Still, Trump might see Powell as a blocker and may try to remove him. If that happens, it could be a political bombshell and a major turning point for the market. Moreover, Polymarket prediction also hints that US President is not going to fire the Fed Chair in 2025. 

Source: Polymarket

As per the prediction, there are only 23% chances of doing so. 

Can Trump Legally Fire Jerome Powell Amid Rising Tensions?

This is where things get tricky. Under U.S. law, Trump can’t just fire Powell for disagreeing on policy. A key ruling from 1935 (Humphrey’s Executor v. United States) protects independent agency heads like the Fed Chair. Jerome firing can only happen if there is clear evidence of neglect or inefficiency, and so far, nothing like that has happened.

Even Treasury Secretary Scott Bessent said recently that Joreme should step down completely after his term ends in May 2026 to avoid confusing the markets. 

Source: X

But he hasn’t resigned, and the question “Did Jerome Powell resign?” is trending with no solid answer.

At the same time, Federal Housing Director Pulte, a Trump supporter in his recent tweet, has criticized Fed Chair calling him out for not understanding average Americans' financial needs.

Source: X

Who’s the Top Contender to Replace Joreme If He's Forced Out This Week?

If President somehow manages to remove Joreme, there’s still no official plan to replace him—at least not anytime soon. According to Polymarket prediction data, there’s only a 15% chance Powell gets removed by August 31, and a 23% chance in all of 2025.

Source: Polymarket

Still, names like Scott Bessent, Kevin Warsh, Kevin Hassett, and Chris Waller are being mentioned as possible successors. But any appointment before his term officially ends would face heavy legal and political challenges.

How Will the Crypto Market React to This?

If Trump manages to fire Fed Chair—legally or not—it could lead to a sharp shift in market sentiment. Trump is known to support crypto and wants to push forward the Crypto Bill in Congress. Many in the platform and project space believe this will be a big win for digital assets.

Experts believe this news could trigger a crypto bull run, possibly helping Bitcoin break its all-time high. The firing could signal to investors that the U.S. government is ready to fully embrace digital assets, giving a huge boost to tokens and coins preparing for listing or launch.

Conclusion 

The current political heat between Trump and Powell is real, but it’s legally tough for Trump to fire him during this Week. While the buzz around Jerome fired is spreading fast on social media, legal experts say it’s unlikely unless serious proof surfaces. Still, the crypto world is watching closely.

Disclaimer: This article is based on publicly available news and political statements. It does not serve as financial or legal advice.