{"id":108237,"date":"2025-10-28T10:46:09","date_gmt":"2025-10-28T10:46:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/108237\/"},"modified":"2025-10-28T10:46:09","modified_gmt":"2025-10-28T10:46:09","slug":"all-five-federal-reserve-chair-finalists-are-pro-bitcoin","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/108237\/","title":{"rendered":"All Five Federal Reserve Chair Finalists Are Pro-Bitcoin"},"content":{"rendered":"\n

Five potential candidates to replace Jerome Powell as chairman of the Federal Reserve<\/a> \u2014 and in a bullish development, all of them are pro-crypto.<\/p>\n

Treasury Secretary Scott Bessent<\/a> revealed second round interviews are about to begin, meaning a final decision could be made by the end of the year.<\/p>\n

First up is Christopher Waller, who has likened Bitcoin to \u201celectronic gold\u201d \u2014 and argued that stablecoins have the potential to boost competition and reduce costs.<\/p>\n

In recent weeks, he\u2019s also called for crypto firms to be given direct access to the Fed\u2019s payment infrastructure,<\/a> meaning they would no longer need to go through banks.<\/p>\n

The Fed governor declared: \u201cThis is a new era for the Federal Reserve in payments \u2014 the DeFi industry is not viewed with suspicion or scorn.\u201d<\/p>\n

Waller\u2019s argument basically boils down to this: digital assets are no longer on the sidelines, and \u201cincreasingly are woven into the fabric of payment and financial systems\u201d.<\/p>\n

Next on the shortlist is the Fed\u2019s current vice chair Michelle Bowman, who has warned regulators shouldn\u2019t adopt an \u201coverly cautious mindset\u201d when it comes to crypto.<\/p>\n

Over the summer, she argued that staff at the US central bank should be given permission to own a small amount of digital assets<\/a> so they can understand how it works, adding:<\/p>\n

\u201cI certainly wouldn\u2019t trust someone to teach me to ski if they\u2019d never put on skis, regardless of how many books and articles they have read, or even wrote, about it.\u201d<\/p>\n

For Bitcoiners, there is little doubt that this is a refreshing perspective. Over many years now, they have long argued that skeptics simply haven\u2019t taken enough time to understand how this technology works.<\/p>\n

Also in the running to be the next Fed chair is Kevin Warsh, whose attitudes toward digital assets are a little more nuanced.<\/p>\n

At one point, he was a contender to be treasury secretary in Trump\u2019s second term, a role that ultimately went to Bessent.<\/p>\n

Warsh has been an early investor in several prominent crypto firms \u2013 including the former algorithmic stablecoin Basis, and the asset manager Bitwise.<\/p>\n

While enthusiastic about BTC as a sustainable store of value, he has dismissed the notion that the world\u2019s biggest cryptocurrency could one day unseat the dollar. Penning an opinion piece in the Wall Street Journal back in 2018, he wrote:<\/p>\n

\u201cBitcoin\u2019s price volatility significantly diminishes its usefulness as a reliable unit of account or an effective means of payment.\u201d<\/p>\n

Of the five names put forward by Bessent, Warsh would probably be the least favorite in crypto circles \u2014 and this is primarily linked to his enthusiasm for central bank digital currencies. While he argues that a digital dollar could strengthen the greenback\u2019s standing on the global stage, cynics argue it could erode privacy and be used to monitor how everyday Americans spend their money.<\/p>\n

Others on the shortlist haven\u2019t been afraid to put their money where their mouth is. One of them is Kevin Hassett \u2014 a top economic official in the Trump administration \u2014 who holds a stake in Coinbase that could be worth up to $5 million.<\/p>\n

Hassett currently serves as director of the National Economic Council and hit headlines on October 20 with a CNBC interview where he predicted that the government shutdown would be over within a week. Eight days on though, and it looks like Democrats and Republicans are nowhere close to ending their stalemate \u2014 with Trump now on a six-day tour of Asia that will take him through three countries.<\/p>\n

Rounding off the list is Rick Rieder, who\u2019s currently BlackRock\u2019s chief investment officer of global fixed income. It won\u2019t be lost on you that this company is now a huge player in the crypto space, not least because of its dominance in Bitcoin ETFs.<\/p>\n

He\u2019s gone on the record as saying that BTC is an ideal addition to investment portfolios \u2014 and over recent years, has argued that this digital asset is a powerful tool for diversification and hedging against inflation. And while he believes Bitcoin has the potential to rise significantly in the years ahead, Rieder has cast doubt on whether it can fix the world\u2019s monetary problems.<\/p>\n

Unless a last-minute entrant enters the race, the next Fed chair will be an ardent supporter of the crypto industry. And given Trump\u2019s displeasure with Powell over a lack of interest rate cuts, it\u2019s clear the White House will be looking for a candidate who will be more aggressive in slashing the cost of borrowing. Cheaper money could be bullish for Bitcoin in the long run.<\/p>\n

Read original story Revealed: All Five Federal Reserve Chair Finalists Are Pro-Bitcoin<\/a> by Connor Sephton<\/a> at Cryptonews.com<\/p>\n","protected":false},"excerpt":{"rendered":"Five potential candidates to replace Jerome Powell as chairman of the Federal Reserve \u2014 and in a bullish…\n","protected":false},"author":2,"featured_media":108238,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[3059,72,66148,39749,113,1961,61,60,3162,66149,66147,7914],"class_list":{"0":"post-108237","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-bitcoin","9":"tag-business","10":"tag-christopher-waller","11":"tag-digital-assets","12":"tag-economy","13":"tag-federal-reserve","14":"tag-ie","15":"tag-ireland","16":"tag-jerome-powell","17":"tag-kevin-hassett","18":"tag-kevin-warsh","19":"tag-scott-bessent"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/108237","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=108237"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/108237\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/108238"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=108237"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=108237"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=108237"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}