Federal Reserve – The Shib Daily

Trump Battles to Remove Federal Reserve Lisa Cook Ahead of Key Rate Decision

Michaela — Mon, 15 Sep 2025 11:55:18 +0000

President Donald Trump has filed an appeal to remove Federal Reserve Governor Lisa Cook as new evidence emerges, ahead of a critical Fed interest rate decision.

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Key points:

President Trump has appealed to remove Federal Reserve Governor Lisa Cook, citing alleged misconduct, ahead of a key Fed interest rate decision.
New documents suggest Cook accurately reported her Atlanta property as a vacation home, potentially weakening the administration’s mortgage fraud claims.
The legal battle raises questions about presidential removal powers, Fed independence, and could set a precedent for executive authority over federal appointments.

In a September 14 appeal, the Trump administration contends that the “for cause” standard for removing Fed Governor Cook grants the president broad discretion and is not subject to judicial review.

Source: Court Listener

The filing adds that even if the president’s decision were subject to review, any examination would be narrowly confined to the strict standard applied in ultra vires claims. “Cook does not argue that she meets that standard, nor could she,” the filing wrote. “The district court’s conclusion that “cause” excludes pre-confirmation conduct finds no support in text or precedent, and even Cook’s counsel did not advocate for that standard below,” it added.

In late August, President Trump sought to remove Federal Reserve Governor Cook, citing alleged false statements on mortgage documents and concerns over her integrity. He contended that Federal Reserve officials must uphold public trust, and claimed Cook’s actions compromised that confidence.

The dispute has sparked a major legal confrontation over presidential authority to remove Federal Reserve officials, intensifying concerns about central bank independence and prompting scrutiny of the US dollar’s stability.

However, recent documents reviewed by NBC News suggest that Federal Reserve Governor Cook accurately reported her Atlanta property as a vacation home rather than a primary residence, potentially undermining the Trump administration’s mortgage fraud claims.

A May 2021 loan summary from Bank-Fund Staff Federal Credit Union lists the property as a vacation home, while Fulton County public records show Cook did not apply for primary residence tax exemptions.

These developments emerge just days ahead of a Federal Reserve interest rate decision, with expectations that the central bank could implement its first unanimous rate cut since December 2024.

The outcome of the appeal could set a precedent for presidential authority over federal appointments, potentially reshaping the balance of power between the executive branch and independent agencies.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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Crypto.com CEO Predicts Fed Rate Cut Could Boost Crypto Markets in Q4

Michaela — Wed, 03 Sep 2025 12:08:57 +0000

Crypto.com CEO Kris Marszalek forecasts that a potential U.S. Federal Reserve rate cut this month could drive a robust fourth-quarter rebound for the cryptocurrency market.

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Key points:

Crypto.com CEO Kris Marszalek predicts a potential Fed rate cut in September, which could boost crypto markets, lower borrowing costs, and increase liquidity for riskier assets.
Crypto.com posted $1.5 billion in revenue and $1 billion in gross profit last year, and while Marszalek says the company is financially positioned for a potential IPO, no decision has been made.
Broader macroeconomic trends, such as interest rate changes and labor market shifts, could significantly impact trading activity and investor behavior across the crypto market.

In a Tuesday interview with Bloomberg, Marszalek said Crypto.com’s revenue is expected to improve this year, particularly if the Federal Reserve implements a rate cut and the fourth quarter sees strong market performance. He expressed confidence in a potential rate reduction at the Fed’s September 17 meeting, noting that lower rates typically benefit crypto by making borrowing cheaper and increasing liquidity for higher-risk investments.

After Fed Chair Jerome Powell’s August Jackson Hole speech, which suggested potential monetary easing, CME futures markets now indicate a 91.7% likelihood of a rate cut.

Powell’s comments at the Jackson Hole symposium prompted major banks, including Morgan Stanley, Barclays, BNP Paribas, and Deutsche Bank, to revise their forecasts, now anticipating a September rate cut. The Fed Chair emphasized signs of a softening labor market, noting July’s modest 73,000 payroll gains and downward revisions to prior months’ data.

In the interview, Marszalek also disclosed that Crypto.com posted $1.5 billion in revenue and $1 billion in gross profit last year, and he forecasted stronger performance in 2025 fueled by lower borrowing costs and growing institutional adoption. He noted that leading investment banks have expressed interest in a potential IPO, though the exchange remains privately held, valuing operational flexibility and a robust balance sheet.

Furthermore, Marszalek noted that the company is financially well-positioned for a potential public offering but has not made a decision, emphasizing the benefits of remaining privately held. He admitted that exploring an IPO is appealing, though no formal plans have been set.

Crypto.com CEO on Macro Trends Affecting SHIB and Crypto

Marszalek’s prediction demonstrates how crypto markets are closely tied to broader economic conditions. If the Federal Reserve decides to cut interest rates, borrowing costs would decrease, encouraging more capital to flow into riskier assets.

This could increase trading activity across the crypto market, including for SHIB, as investors seek opportunities to capitalize on potential gains. For Shiba Inu holders, it is a clear reminder that even the price and demand for SHIB can be influenced by external macroeconomic factors beyond the community and ecosystem itself.

Being aware of these trends allows holders to anticipate market movements and make more informed decisions while continuing to participate in SHIB’s growing projects and developments.

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Trump Eyes 11 Fed Chair Picks, 3 Could Boost Crypto-Friendly Policies

Michaela — Thu, 28 Aug 2025 10:56:15 +0000

Summary: Who are some of the candidates being considered to replace Jerome Powell as Fed chair?

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The Trump administration has reportedly begun reviewing a list of 11 potential candidates to succeed Federal Reserve Chair Jerome Powell when his term ends in May, with several who have signaled crypto-friendly positions.

According to a report by CNBC, potential candidates to succeed Powell as fed chair include Jefferies Chief Market Strategist David Zervos, former Fed Governor Larry Lindsey, and BlackRock CIO for global fixed income Rick Rieder. They join a list of eight other contenders, including Fed Vice Chair for Supervision Michelle Bowman and Fed Governor Chris Waller.

Officials told CNBC that Treasury Secretary Scott Bessent will conduct interviews with all candidates, narrow the list, and submit a final selection to the president. The number of candidates and the described process indicate that a decision is not expected soon and could take significant time. However, the officials declined to provide a specific timeline.

Analysts have noted that a prolonged selection process may prevent a “shadow Fed chair” from being appointed months before Powell’s term ends, potentially creating uncertainty for monetary policy.

The announcement of potential candidates to succeed Powell comes after reports that President Donald Trump has removed Federal Reserve Governor Lisa Cook from her post.

A letter from President Trump has formally removed Federal Reserve Governor Lisa Cook from her post, citing alleged misconduct. Trump claimed Cook made false statements on mortgage documents, pointing to instances where she certified different properties as her primary residence within weeks. He argued that the public must have full confidence in officials overseeing Federal Reserve policy and regulatory duties, stating that Cook’s actions undermine that trust.

Conflict between President Trump and the Federal Reserve is longstanding. In November 2024, Powell made clear he would not resign at the president-elect’s request, stressing that the White House does not have the power to dismiss him.

The situation raises broader questions about the potential impact of Fed leadership changes on U.S. monetary policy, including interest rate decisions, market stability, and investor confidence.

As the process unfolds, market participants and policymakers alike will be closely watching how these developments shape economic strategy in the months ahead.

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US Leaders Split on Bitcoin: Fed Rejects Reserves, Lummis Calls for Strategy

Michaela — Fri, 20 Dec 2024 14:22:34 +0000

Federal Reserve Chair Jerome Powell has reaffirmed that the central bank cannot own Bitcoin. However, Senator Cynthia Lummis proposes a plan to enable the Federal Reserve to hold the cryptocurrency.

During a press briefing following the year’s final Federal Open Market Committee (FOMC) meeting, Powell reiterated that the central bank is neither authorized nor inclined to hold Bitcoin as part of its reserves. He also emphasized that the Federal Reserve has no plans to advocate for legislative changes to permit such actions.

With President-elect Donald Trump set to take office, interest in cryptocurrencies is on the rise. However, Powell’s statements have made it clear that the central bank remains hesitant to integrate Bitcoin into its monetary policy framework.

There is a notable policy divide regarding the dollar’s dominance in global markets. The Federal Reserve is focused on preserving this dominance. In contrast, some members of the incoming Trump administration are interested in exploring alternative reserve assets.

Experts argue that establishing a Strategic Bitcoin Reserve could spark tensions between regulatory agencies and the executive branch, further complicating efforts to incorporate Bitcoin into federal financial systems.

On the other hand, Senator Lummis has taken a contrasting approach, introducing a proposal aimed at granting the Federal Reserve the authority to hold Bitcoin as part of its reserves.

In a recent interview with Yahoo Finance, Lummis outlined her proposal, which calls for the U.S. government to acquire 200,000 Bitcoin each year for the next five years, ultimately amassing one million Bitcoin. The plan also includes holding the Bitcoin for a minimum of 20 years.

According to Lummis’ projections, the Bitcoin reserve could appreciate to a value of $16 trillion over time. “I want our federal government to have a strategic Bitcoin reserve that can help back the US dollar,” Lummis said.

Lummis stressed that a Bitcoin reserve could offer multiple benefits, including bolstering the U.S. dollar and addressing some of the challenges associated with the country’s large debt.

In a post on X, Lummis expressed enthusiasm about collaborating with President-elect Trump’s pick for Crypto Czar, David Sacks, on comprehensive digital asset legislation and her proposed Bitcoin reserve. “This will be the most pro-digital asset administration ever!” she wrote.

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Bitcoin Should Be Taxed or Banned, Say ECB and Federal Reserve Reports

Lawrence Damilola — Mon, 21 Oct 2024 15:15:33 +0000

A recent Federal Reserve Bank of Minneapolis paper proposes that assets like Bitcoin should be taxed or banned to help governments manage permanent deficits.

The paper, published last Thursday, argues that in an economy where the government relies on nominal debt to maintain permanent deficits, Bitcoin poses challenges for policy implementation. The researchers claim that Bitcoin (BTC) introduces what they describe as a “balanced budget trap,” where the government is forced to balance its budget, disrupting its ability to sustain a permanent deficit.

The paper uses Bitcoin as an example of private-sector security with a fixed supply and no real resource claims, concluding that banning or taxing the asset could solve this problem. “A legal prohibition against Bitcoin can restore unique implementation of permanent primary deficits, and so can a tax on Bitcoin,” the report stated.

The United States, which has a total national debt of $35.7 trillion, currently faces a primary deficit of around $1.8 trillion. A recent Reuters report pointed to a 29% rise in interest costs for Treasury debt, which reached $1.13 trillion, as a key factor contributing to the fiscal 2024 deficit. The Federal Reserve paper suggests that regulating Bitcoin could help governments manage these fiscal challenges.

ECB Report Claims Bitcoin Wealth Transfer Favors Early Investors

In a separate development, a European Central Bank (ECB) report claims that Bitcoin’s structure disproportionately benefits early investors at the expense of newer market entrants. The paper argues that Bitcoin’s limited supply and decentralized nature have created a system in which early holders can sell at a profit, leading to what the authors describe as an unfair transfer of wealth.

The same report suggests that strict price controls or an outright ban on Bitcoin could prevent this perceived wealth transfer. The authors also raised concerns about Bitcoin’s use in illegal activities but noted that fiat currencies remain the most common means of facilitating illicit transactions.

Jürgen Schaaf, an adviser to the ECB’s Senior Management, echoed the paper’s findings. On Oct. 20, he wrote on social media, “Non-holders should recognize that Bitcoin’s rise is fueled by wealth redistribution at their expense,” and advocated for policies that could either limit Bitcoin’s growth or eliminate it entirely.

Despite these criticisms, interest in Bitcoin continues to grow. A survey by Charles Schwab revealed that 45% of U.S. investors plan to invest in cryptocurrencies through exchange-traded funds (ETFs) in the coming year, with growing demand among millennials.

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Bitcoin Slammed as ‘Worthless’ by Fed President Despite Soaring 48% in 2024

Lawrence Damilola — Tue, 15 Oct 2024 15:10:58 +0000

Minneapolis Federal Reserve President Neel Kashkari has reiterated his stance that Bitcoin remains a “worthless” asset class despite its 12 years of existence. Kashkari emphasized that the cryptocurrency has not established itself as a viable currency, maintaining its critical view of the asset despite its longevity in the financial markets.

FED'S KASHKARI: BITCOIN REMAINS WORTHLESS AFTER TWELVE YEARS
— FinancialJuice (@financialjuice) October 14, 2024

Bitcoin’s Performance Over the Years

BTC has shown significant gains through the years, delivering notable returns during several key periods. In 2012, the cryptocurrency rose by 9%, followed by a 59% increase in 2016 and a remarkable 171% gain in 2020.

So far, in 2024, Bitcoin increased by 48%, outperforming many major asset classes. Over the past month, the cryptocurrency climbed by 10%. However, during the final quarter of Q3, BTC’s returns were largely flat, gaining only 0.8% by the end of September.

In comparison, gold, often viewed as a rival store of value to Bitcoin, performed better during the same period, delivering a 13.8% return in the last quarter.

Institutional Interest in Bitcoin ETFs

Demand for spot Bitcoin ETFs continues to rise, driven by increasing institutional interest. On October 14, 2024, BTC ETFs in the U.S. saw an inflow of $556 million daily, marking the largest inflow since June 5, 2024. The inflows into BTC ETFs indicate continued interest from institutional investors in the cryptocurrency. The total inflows on Monday reached $555 million, the largest in four months, underscoring the growing demand for this investment vehicle.

The U.S. elections in 2024 are shaping up to be a significant factor for the cryptocurrency industry. Both leading candidates, Donald Trump and Kamala Harris, support clearer crypto regulations. Trump, speaking at the Bitcoin Conference 2024 in Nashville, pledged to make the U.S. a global hub for cryptocurrency if elected, signaling his strong stance on fostering the industry. Kamala Harris has also voiced support for crypto-friendly policies if she assumes office.

According to CryptoQuant data, BTC reserves on centralized exchanges have reached an all-time low. This reflects investors transferring their BTC into long-term cold storage.

Additionally, BTC’s open interest has reached a record high of $19.8 billion, indicating increased liquidity in the derivatives market. Traders appear to be building long positions, suggesting rising interest in BTC among market participants.

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Federal Reserve – The Shib Daily

Trump Battles to Remove Federal Reserve Lisa Cook Ahead of Key Rate Decision

Read More

Crypto.com CEO Predicts Fed Rate Cut Could Boost Crypto Markets in Q4

Key points:

Crypto.com CEO on Macro Trends Affecting SHIB and Crypto

Read More

Trump Eyes 11 Fed Chair Picks, 3 Could Boost Crypto-Friendly Policies

Read More

US Leaders Split on Bitcoin: Fed Rejects Reserves, Lummis Calls for Strategy

Read More

Bitcoin Should Be Taxed or Banned, Say ECB and Federal Reserve Reports

ECB Report Claims Bitcoin Wealth Transfer Favors Early Investors

Read More

Bitcoin Slammed as ‘Worthless’ by Fed President Despite Soaring 48% in 2024

Bitcoin’s Performance Over the Years

Institutional Interest in Bitcoin ETFs

Read More