That won't happen because if Congress supports and helps Trump fire Powell , it will have serious consequences for the US. The world will lose faith in the USD because the Fed is known as an independent agency, their mission is not only to ensure the US economy but also the world. If Powell is fired, it means the Fed has become politicized and is no longer trustworthy. Trump understands that better than anyone, which is why after much criticism, threats and pressure on the Fed to lower interest rates, he has made it clear that he has no intention of firing Powell.
https://edition.cnn.com/2025/04/22/business/trump-says-he-has-no-intention-of-firing-jerome-powell/index.htmlYes, I know. I hope that doesn't happen. Or we'll be off to extreme economic uncertainty for good. At least, for Americans. The rest of the world will adapt and eventually choose a USD alternative as its reserve currency. With only one year left before Powell's term ends, the odds of Trump firing the chairman are slim. Best bet would be to wait until May 2026, and replace the chairman with one that's loyal to Trump. That could also undermine investors confidence in the US, as the FED will become highly-politicized.
Another thing that could happen is Trump and his administration abolishing the FED for good (End the Fed). It's part of Trump's "Project 2025" agenda (read the document to see for yourself). At least, Europe is doing well. The ECB's rate cuts are a needed boost for the economy. Let's what happens in the long run.
I don't think it would be that easy. The entire system is built around the USD, it would be a total mess if the rest of the world had to come up with a reserve currency alternative. BTC is clearly not in the mind of the west or at least most countries. Countries like China and Russia may be secretly accumulating BTC for years now, but those are dictatorships so investing on those places is a risk by default since you don't even know if the numbers their companies deliver are real (it's all intervened by the state so they can put anything they want on the balance sheets for all we know). So we are stuck in this weird limbo wondering what will happen if the USD were to reach a point where you cannot trust as reserve currency. Perhaps the Swiss currency would be a good one since the have good assets on their banks. Im talking about viable fiat alternatives, with BTC you can barely do anything as it stands, so you need a fiat onramp.