The Fed Is Changing Hands! Will Trump’s People Be at Powell’s Final Press Conference?

This week, the Federal Reserve is about to explode with activity.
A Republican senator has just given a green light, and Washington’s nomination for Fed chair is basically set. The vote will be held on Wednesday night, with him taking office as early as mid-May. And just a few hours later, Powell will hold his 63rd press conference—and it may very well be his last.
Once Washington takes over, interim governor Milan has to step down—this “short-lived official” who has been loudly calling for rate cuts, after only a few weeks in the role, will attend his final Federal Reserve meeting this week.
The biggest suspense now is: Will Powell simply walk away and quit directly?
Under the rules, he will step down as chair on May 15, but his seat on the board can remain until 2028. But if he leaves early in a fit of anger, Trump can insert another “one of his people” onto the board. By then, on the 7-member board, Trump’s people will hold 4 seats—Waller, Bowman, Washington, plus a new vacant seat with a fresh face.
What does that mean? Trump can at any time move to dismantle the Federal Reserve’s traditional structure, including removing the presidents of the regional Federal Reserve banks.
Powell’s choice will directly determine the timing and intensity of this “Fed coup.”
Rate cuts, independence, personnel upheaval—after this week, will the Federal Reserve still be the one you know? $BTC ‌