BitMEX co-founder Arthur Hayes sparked debate on Thursday ahead of Federal Reserve Chair Jerome Powell‘s pivotal Jackson Hole speech, declaring he wants “no cut” in interest rates to force President Donald Trump into unconventional fiscal measures.
Hayes Predicts Powell-Trump Showdown
Writing on social media platform X, Hayes framed Friday’s address as a critical test: “Will Jay cut and become Trump’s twink, or choose violence becoming Volker 2.0?”
The crypto entrepreneur referenced former Fed Chair Paul Volcker‘s aggressive 1981 rate hikes to 21.5%, which triggered a severe recession but ultimately tamed inflation. Hayes suggested Powell might similarly resist political pressure, forcing Trump to activate what he termed the “brr btn”—a reference to money printing or quantitative easing.