$ARPA $RESOLV Sudden Market Movement! Fed Chair Powell Testifies on Wednesday—What Is This Litigation About?

Powell rarely decides to appear in person before the Supreme Court to "support" Director Cook. Currently, President Trump is attempting to remove Cook, citing allegations from August last year involving real estate mortgage fraud. Cook denies the charges, stating he has not been prosecuted, and has counter-sued Trump. The court has paused the impeachment process.

But the story is not that simple. Powell is currently under criminal investigation related to the Federal Reserve renovation project. He openly states: the investigation is a pretext; the real reason is that he and Cook did not cut interest rates quickly last year as Trump demanded. As a result, they have become "targets."

If Trump gets his way, he will control the majority of seats on the Federal Reserve Board, directly influencing interest rate policies and banking regulation directions. This is highly significant for the crypto market—Federal Reserve policy direction determines liquidity conditions, which in turn affect the entire market's liquidity.

The core of this legal battle is actually the independence of the central bank. Whoever wins will determine the future policy space of the Federal Reserve. The market is closely watching the Supreme Court's ruling.