Crypto Looks at Fed Interest Rate Cut as Trump Shakes Up Central Bank
The post Crypto Looks at Fed Interest Rate Cut as Trump Shakes Up Central Bank appeared on BitcoinEthereumNews.com. As the US Federal Reserve prepares to adjust interest rates on Wednesday, a broader shake-up at the central bank could have serious implications for crypto markets. The Fed is expected to cut interest rates tomorrow, in a move that traditionally signals a rally in crypto markets: Lower yields on assets like bonds mean riskier assets like crypto are more attractive. The expected rate cuts come amid a political battle and a new appointment to the Federal Reserve. US President Donald Trump’s administration has charged Fed governor Lisa Cook with mortgage fraud as it seeks her removal. Meanwhile, the Senate has confirmed White House economic adviser Stephen Miran to the board of governors. The charges against Cook and the effort to nominate an individual with ties to the administration could mean a less independent Federal Reserve, which plays an important role in setting crypto policy. Bitcoin price spiked in 2021-2022 amid low US interest rates. Source: Trading Economics What a political Federal Reserve means for crypto policy The Trump administration is seeking to remove Cook — a Biden-era appointee — as it aims to exert more control over the Federal Reserve. On Aug. 25, the White House X page posted a letter in which Trump fired Cook, accusing her of making false statements on one or more mortgage agreements. Cook denied the accusations and refused to step down. Her legal team said the charges were motivated by politics and that the White House is “scrambling to invent new justifications for its overreach.” Cook herself said that it is “unprecedented and illegal.” On Monday, the appeals court in Washington blocked the White House from removing Cook from her position at the Federal Reserve. This will allow her to maintain her post while the case is pending. Trump sought to remove Cook on…
The post Crypto Looks at Fed Interest Rate Cut as Trump Shakes Up Central Bank appeared on BitcoinEthereumNews.com.
As the US Federal Reserve prepares to adjust interest rates on Wednesday, a broader shake-up at the central bank could have serious implications for crypto markets. The Fed is expected to cut interest rates tomorrow, in a move that traditionally signals a rally in crypto markets: Lower yields on assets like bonds mean riskier assets like crypto are more attractive. The expected rate cuts come amid a political battle and a new appointment to the Federal Reserve. US President Donald Trump’s administration has charged Fed governor Lisa Cook with mortgage fraud as it seeks her removal. Meanwhile, the Senate has confirmed White House economic adviser Stephen Miran to the board of governors. The charges against Cook and the effort to nominate an individual with ties to the administration could mean a less independent Federal Reserve, which plays an important role in setting crypto policy. Bitcoin price spiked in 2021-2022 amid low US interest rates. Source: Trading Economics What a political Federal Reserve means for crypto policy The Trump administration is seeking to remove Cook — a Biden-era appointee — as it aims to exert more control over the Federal Reserve. On Aug. 25, the White House X page posted a letter in which Trump fired Cook, accusing her of making false statements on one or more mortgage agreements. Cook denied the accusations and refused to step down. Her legal team said the charges were motivated by politics and that the White House is “scrambling to invent new justifications for its overreach.” Cook herself said that it is “unprecedented and illegal.” On Monday, the appeals court in Washington blocked the White House from removing Cook from her position at the Federal Reserve. This will allow her to maintain her post while the case is pending. Trump sought to remove Cook on…
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