Polymarket Odds on Jerome Powell's Ouster Jumps as Congresswoman Says It's 'Imminent'
2025-07-16 06:17:07
Main Idea
Polymarket bettors are speculating on the potential firing of Federal Reserve chair Jerome Powell following a post by Congresswoman Anna Paulina Luna, despite legal challenges and historical precedents that make such an action unlikely.
Key Points
1. Congresswoman Anna Paulina Luna claimed on social media that Jerome Powell's firing is imminent, causing Polymarket bettors to increase their bets on the possibility.
2. The odds on Polymarket for Powell's removal initially rose to 27% but later dropped back to 25%.
3. Legal precedent, such as the 1935 Supreme Court case _Humphreys' Executor v. United States_, supports the Federal Reserve Act’s 'for cause' removal clause, making Powell's firing unlikely.
4. President Trump has historically expressed a desire to remove Powell, but legal barriers remain in place.
5. Bitcoin traders dismissed the possibility of Powell's removal, indicating skepticism in the crypto market.
Description
A Florida Congresswoman's post on X has moved the market for bettors looking to speculate on the firing of Federal Reserve chair Jerome Powell. Anna Paulina Luna (R- Florida) claimed on the social media site that Powell's firing was 'imminent', but provided no further details, moving the 'yes' side of a related contract on Polymarket by 4 % up to 27%. Luna does not serve on the House Financial Services Committee , which oversees the Federal Reserve. The Florida 13th district representative serve...
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