Trump Urges Powell to Make a Larger Fed Rate Cut Ahead of FOMC Meeting
The post Trump Urges Powell to Make a Larger Fed Rate Cut Ahead of FOMC Meeting appeared on BitcoinEthereumNews.com. U.S. President Donald Trump is making a last-ditch push ahead of the FOMC meeting this week. The president has again urged Powell to make a large Fed rate cut, one bigger than the Fed may currently be planning. A potential rate cut could be bullish for Bitcoin and the broader crypto market, as BitMEX co-founder Arthur Hayes predicted. Trump Presses Powell To Make A Higher Fed Rate Cut In a Truth Social post, the U.S. president said that “Too Late,” in reference to Powell, must cut interest rates now, and that it must be bigger than what he has in mind. This marks Trump’s latest push to get the Fed to lower interest rates. Notably, this comes after Trump floated the idea of a 100 basis points (bps) Fed rate cut last week. This is in line with his belief that interest rates should be 300 bps lower by now, having urged the Fed to cut rates since he took office at the start of the year. With a rate cut expected at the FOMC meeting this week, the issue is no longer about whether there will be lower interest rates but about the magnitude of the imminent cuts. As CoinGape reported, economists predict that the Fed will make a 25 basis points (bps) rate cut instead of a 50 bps cut. CME FedWatch data also shows that there is a 94.2% chance of a 25 bps Fed rate cut following this week’s FOMC meeting. Meanwhile, there is only a 5.8% chance that the Fed will make a 50 bps cut. Source: CME FedWatch The odds of a 50 bps rate cut dropped from above 10% following the CPI data release last week. Inflation rose to 2.9% in August. Although this is in line with expectations, it has raised concerns…
The post Trump Urges Powell to Make a Larger Fed Rate Cut Ahead of FOMC Meeting appeared on BitcoinEthereumNews.com.
U.S. President Donald Trump is making a last-ditch push ahead of the FOMC meeting this week. The president has again urged Powell to make a large Fed rate cut, one bigger than the Fed may currently be planning. A potential rate cut could be bullish for Bitcoin and the broader crypto market, as BitMEX co-founder Arthur Hayes predicted. Trump Presses Powell To Make A Higher Fed Rate Cut In a Truth Social post, the U.S. president said that “Too Late,” in reference to Powell, must cut interest rates now, and that it must be bigger than what he has in mind. This marks Trump’s latest push to get the Fed to lower interest rates. Notably, this comes after Trump floated the idea of a 100 basis points (bps) Fed rate cut last week. This is in line with his belief that interest rates should be 300 bps lower by now, having urged the Fed to cut rates since he took office at the start of the year. With a rate cut expected at the FOMC meeting this week, the issue is no longer about whether there will be lower interest rates but about the magnitude of the imminent cuts. As CoinGape reported, economists predict that the Fed will make a 25 basis points (bps) rate cut instead of a 50 bps cut. CME FedWatch data also shows that there is a 94.2% chance of a 25 bps Fed rate cut following this week’s FOMC meeting. Meanwhile, there is only a 5.8% chance that the Fed will make a 50 bps cut. Source: CME FedWatch The odds of a 50 bps rate cut dropped from above 10% following the CPI data release last week. Inflation rose to 2.9% in August. Although this is in line with expectations, it has raised concerns…
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