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Category: CRYPTO NEWS
The post President Trump says the Fed was right to stop cutting interest rates appeared on BitcoinEthereumNews.com. President Donald Trump stunned reporters on Sunday night when he praised the Federal Reserve’s decision to hit pause on its rate cuts. “I’m not surprised,” he said as he arrived in Washington aboard Air Force One. “Holding the rates at this point was the right thing to do.” Now this is a complete 180 for a man who spent much of the past year relentlessly demanding that the Fed cut rates immediately. During his second day back in office, Trump flatout said he was gonna force chair Jerome Powell into cutting rates one way or another. Ignoring him as per usual, the Federal Open Market Committee (FOMC) last week voted unanimously to hold the federal funds rate between 4.25% and 4.5%. The decision came amid fears that inflation could spike again, driven by Trump’s own economic policies, including the tariffs he just launched and of course the immigration crackdowns. Still, Mr. Trump continues to push his economic agenda. At the World Economic Forum in Davos, Switzerland, just days before the Fed’s decision, he told global leaders that the U.S. economy needed lower interest rates to stay competitive. “If I disagree [with the Fed’s decision], I will let it be known,” he told reporters from the Oval on Thursday, targeting Fed Chair Jerome Powell directly, who by the way said he had absolutely no comments about the president at his post-minutes press conference, as Cryptopolitan reported. Trump’s incoming trade wars keep pressure on inflation February 1st saw chaos as the S&P 500 hit an all-time high before investors began bracing for possible fallout from rising prices. The tariffs are creating bottlenecks and adding costs for companies that rely on foreign goods as well as innocent Americans, pushing inflation higher. Wall Street is so mad at Trump right now. Investors know that…
2025-02-03T04:44:05+00:00
https://bitcoinethereumnews.com/finance/president-trump-says-the-fed-was-right-to-stop-cutting-interest-rates/?utm_source=rss&utm_medium=rss&utm_campaign=president-trump-says-the-fed-was-right-to-stop-cutting-interest-rates