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Jakarta, Pintu News – Bitcoin and crypto markets are showing recovery after a US district court temporarily halted President Donald Trump’s attempt to fire Federal Reserve Governor Lisa Cook. The decision has sparked speculation about the future of monetary policy and the independence of the Federal Reserve. Read the full information in this article!
The crypto market, which includes Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Binance Coin (BNB), Solana (SOL), Dogecoin (DOGE), and Cardano (ADA), saw gains after the court decision was announced. These gains occurred despite Trump-related crypto assets showing a decline.
For example, World Liberty Financial (WLFI) fell nearly 1% following the decision. The court’s decision provides a positive signal for investors concerned about potential political influence on Federal Reserve policy. This is because the independence of the Federal Reserve has long been considered an important pillar in maintaining the stability of the US economy.
Also read: Debuting on Nasdaq, SOL Strategies Carries 94 Million Dollars of Solana (SOL) Assets!
District Judge Jia Cobb of the US District Court for the District of Columbia issued a temporary restraining order at the request of Governor Lisa Cook. This order temporarily halts Trump’s decision to remove Cook “with cause” from the Board of Governors.
In addition, the court ordered Fed Chairman Jerome Powell and the Board of Governors of the Federal Reserve System not to consider dismissing Lisa Cook based on the reasons presented in the President’s August letter. Cook should retain access to her office and the benefits of her position until the litigation is resolved.
Read also: Ripple News (11/9): 4 – 5 Billion XRP Stored on Binance, South Korea is the Largest Holder?
Markets reacted positively to the court’s decision, which showed support for the independence of the Federal Reserve. The decision also alleviated concerns about political intervention in monetary policy that could destabilize the economy.
However, this situation could still change as the legal process is still ongoing and President Trump is unlikely to back down from his efforts to control interest rate policy. Investors and market analysts should stay alert for further developments that could affect market dynamics.
This court decision is not only important for Lisa Cook or the Federal Reserve, but also for the entire financial market, including the crypto market. Clarity regarding the Federal Reserve’s independence and stable monetary policy is essential for investor confidence and market stability. Going forward, these subjects will continue to be a key focus for market participants.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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