- White House plans no reforms to Federal Reserve structure.
- Kevin Hassett supports maintaining Fed’s independence.
- No immediate crypto market impact detected.
Kevin Hassett, Director of the U.S. National Economic Council, announced no current plans to reform the Federal Reserve, maintaining the institution’s existing structure and independence.
This decision alleviates immediate market concerns, preserving status quo in the Federal Reserve’s operations, with no direct crypto market impact observed at present.
The White House economic team, led by Kevin Hassett, is not pursuing reforms to the Federal Reserve. This decision reaffirms their commitment to the current framework and independence of the central bank, according to recent statements from the National Economic Council. Kevin Hassett, Director, U.S. National Economic Council, emphasized: “The administration currently sees no need for changes to the Federal Reserve.” Source
Hassett, an integral figure in U.S. economic policy, emphasized there are no plans for structural changes within the Federal Reserve. His assertion aligns with the administration’s stance on keeping the institution’s independence intact. Stephen Miran’s dual-role intentions remain a contentious issue. This announcement from Hassett is expected to bring stability to financial markets, ensuring that no sudden shifts disrupt the current economic dynamic. Investors and policymakers maintain focus on existing strategies without fear of immediate alterations.
Political implications include ongoing scrutiny from the Senate, especially regarding Miran’s potential appointment to the Fed’s Board. Lawmakers express concerns about potential conflicts with his White House ties, which could affect perceived Fed autonomy. According to the Senate Democrats, “It is ludicrous to contend that you could exercise independent judgment regarding monetary policy and financial regulation.”
White House economic advisor not planning to reform Federal Reserve.
Historically, debates over Fed independence have influenced market sentiment, more than causing asset re-pricing. Crypto assets like BTC and ETH have shown minimal response. Existing data does not show significant movement up to now. Financial, regulatory, or technological outcomes remain uncertain. Analysts watch for any shifts, drawing parallels from past events. Still, the crypto sector seems unfazed, with no noted deviations in blockchain data or liquidity flows.
