Trump Escalates Fed Feud, Demands Rate Cuts Amid Election Pressure

President Donald TRUMP intensified his public criticism of Federal Reserve Chair Jerome Powell, labeling him a ''numbskull'' while asserting he won''t remove the central bank chief despite mounting frustration over unchanged interest rates. The remarks came during a White House event where Trump claimed a one-percentage-point rate cut could save $300 billion annually, with double that figure for a two-point reduction.

The administration''s coordinated pressure campaign reflects growing impatience with Fed independence as Trump faces re-election pressures. Commerce Secretary Howard Lutnick and Vice President JD Vance echoed the sentiment, with Vance calling the Fed''s stance ''monetary malpractice'' in a recent tweet.

Market observers note the unusual public confrontation could create volatility in traditional markets, potentially driving capital toward decentralized assets. Cryptocurrencies often benefit from fiat currency instability and institutional distrust—conditions this political standoff may exacerbate.