In a recent post shared to Trump Media & Technology Group-owned social media platform Truth Social, President Donald Trump did not hold back from harshly criticizing Fed Chairman Jerome Powell’s unwavering stance towards interest rates.
“Too Late—Powell is the WORST. A real dummy, who’s costing America $Billions!” wrote Trump in his post.
Not only that, he also included a link to an article published on the National Mortgage News site, which quoted an analysis from Fannie Mae’s and Freddie Mac’s regulator who called for the Federal Reserve Chairman to quit if he continues to maintain the current interest rate.
Although the decision to keep the interest rates steady at a range of 4.25% to 4.5% range, it has left Bitcoin Bitcoin
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Bitcoin at a standstill. Ever since it was announced that the Fed unanimously voted to maintain its current policy in June, Bitcoin has been stuck around the $104,000 floating around the mark, seeing weak gains of only 0.28% to as low as 0.1%.
It appears that the Fed’s cautionary stance has triggered a pause in Bitcoin’s previous rally, much to the dismay of traders and the President of the U.S. himself. In the past two weeks, the largest cryptocurrency has seen a slight increase of 0.3%.#PowellRemarks #bitcoin
