Trump Criticizes Fed Chair Powell, Markets React
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President Trump has publicly feuded with Federal Reserve Chair Jerome Powell this week, expressing dissatisfaction with the central bank’s borrowing rate decisions. Trump has called Powell ’Mr. Too Late’ and ’a major loser’ for not cutting interest rates. Despite Trump’s desire to potentially replace Powell, the move is not necessary as the administration has yet to explore all options. Investors have reacted negatively to the tension, causing a sell-off in US equities upon the resumption of trading. The crypto market, however, was not directly mentioned in the remarks, and it remains to be seen how the situation will affect the prices of cryptocurrencies like BTC, ETH, LTC, and others.
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