Polymarket Slashes Odds of Jerome Powell's Ouster as Trump Backs Off

Trump's Support Sends Shockwaves Through Prediction Markets

Hang onto your hats, folks! The prediction market Polymarket just dropped the odds of Federal Reserve Chair Jerome Powell getting the boot to a mere 14%! That's a whopping 9 percentage point plunge in just 24 hours. Why the sudden shift? None other than President Donald Trump himself stepped up to the mic, declaring he's got "no intention" of firing Powell. Talk about a plot twist!

Trump did throw a little shade, saying he'd like Powell to be "a little more active" with those rate cuts. But hey, no plans to replace him, so that's something. Just last week, the rumor mill was churning out stories of Trump's team interviewing Powell's potential replacements. What a rollercoaster!

The gossip got even juicier after Treasury Secretary Scott Bessent opened his mouth, and whispers of Powell and Trump's monetary policy disagreements hit the fan. Trump's been pushing for those aggressive rate cuts to cushion the blow of his new tariffs, but Powell? He's playing it cool, resisting more cuts and even lowering the Fed's 2025 economic outlook. Polymarket's updated odds are a clear sign that the market's starting to believe Powell's here to stay. And that's calming some seriously frayed nerves in both traditional and crypto markets.

The crypto world is popping champagne over this news, especially with Trump easing up on those China tariffs. Bitcoin (BTC) just rocketed past $93,000, hitting its highest point in weeks. And get this—the Crypto Fear and Greed Index is now screaming "Greed" after soaring 25 points to 72. Investors are feeling frisky, folks!

With 13 months left in Powell's term, Trump's backing has thrown a bucket of ice water on what was a blazing hot debate. But market analysts are keeping their eyes peeled. They say the White House needs to keep the economic policy chatter clear and steady to keep investor confidence from going haywire in the coming months. Buckle up, it's gonna be a wild ride!