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TRUMP DENIES HE WILL FIRE JEROME POWELL!
BITCOIN IMMEDIATELY JUMPS TO $94,000?
Bitcoin's price surged to $94,000 after U.S. President Donald Trump dismissed rumors of firing Federal Reserve Chairman Jerome Powell and reaffirmed his desire for interest rates to be lowered immediately.
"Never," Trump told reporters on Tuesday (April 23). "The media exaggerates. 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 the Director of the White House National Economic Council, Kevin Hassett, stated that Trump was considering whether he had the authority to fire Powell.
The speculation was triggered by a series of social media posts and Trump's 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 be able to 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 late," he said.
