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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
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Famous economist El Erian called for the resignation of Fed Chairman Powell.
Muhammad El-Erian, who has criticized the Fed and Jerome Powell many times in the past and has seen the institution as primarily responsible for the rise in inflation, said this time that Jerome Powell should resign.
The famous economist evaluating the situation at the Fed from his personal X account said, "This is the best option for Powell and the Fed:"
"In recent days, criticisms directed at both Powell and the Fed by the U.S. government have increased. These criticisms were not only aimed at Powell's personal leadership but also at the Fed's overstepping of its mandate. If Powell remains in office, it will cast a shadow over the Fed's independence. Therefore, I believe he should resign. Although this resignation may not be the best option for institutional independence, I consider it the second-best option. I do not think there is a better solution. If Powell's goal is to protect the Fed's independence, he can best achieve this by resigning."
"Does not cause turbulence"
Erian also stated that Powell's resignation would not cause turmoil in the markets and said, "His successors are capable of carrying on the duties he left behind. Therefore, I don't think there will be any issues or turmoil in the markets."
Published: July 22, 2025 15:24Last Updated: July 22, 2025 15:30