The price of Bitcoin has surged to $94,000

after U.S. President Donald Trump dismissed rumors of firing Federal Reserve Chairman Jerome Powell and reiterated his desire for interest rates to be lowered soon.

"Never," Trump told reporters on Tuesday (April 23). "The media is exaggerating. No, I do not intend to fire him. But I want to see him more active in lowering interest rates," he added.

This statement came after White House National Economic Council Director Kevin Hassett mentioned that Trump was considering whether he had the authority to fire Powell. The speculation was sparked by a series of social media posts and Trump's public criticism of the Fed's policies.

Trump reiterated his criticism, especially after the European Central Bank (ECB) cut its benchmark interest rate to 2.25% last week. Trump believes the Fed should act more quickly and not lag behind.

"We think this is the right time to lower interest rates, and we want to see Powell act quickly, not too late," he said. #bitcoin