Trump is considering filing a lawsuit against Federal Reserve Chairman Jerome Powell over renovation costs of $3 billion, describing his administration as incompetent.
U.S. Consumer Price Index data at 2.7%, lower than the expected 2.8%, supports Trump's efforts to lower federal interest rates in September, boosting cryptocurrency prices.
Trump and his Federal Reserve chair candidate, Stephen Miran, argue that tariffs do not cause inflation, as the Consumer Price Index has remained steady at 1.9% annually since Trump took office.
President Donald Trump is stirring controversy again, announcing that he may sue Federal Reserve Chairman Jerome Powell over the exorbitant costs of renovating his buildings. At the same time, the Federal Reserve is strongly calling for a reduction in interest rates after the latest U.S. Consumer Price Index data showed a decrease of 2.7%, which is lower than the expected rate of 2.8%.
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This news, published on August 12, 2025, led to a surge in the digital currency market, with Bitcoin reaching $119,000, while Ethereum surpassed $4,400. Trump's comments on the 'Truth Social' platform show his frustration with Powell, whom he described as 'too late' for delaying interest rate cuts and mismanaging the Federal Reserve's construction projects.$SOL
