The post Trump blasts ‘too late’ Powell for not cutting interest rates appeared on BitcoinEthereumNews.com.

US President Donald Trump renewed his criticism of Federal Reserve Chair Jerome Powell, accusing him of being too slow to cut interest rates and escalating a long-running conflict that risks undermining the central bank’s political independence. With the European Central Bank (ECB) cutting interest rates again on April 17, “Too Late” Powell has failed to act appropriately in the United States, even with inflation falling, Trump said on Truth Social on April 17.  “Powell’s termination cannot come fast enough!” Trump said. Source: realDonaldTrump Florida Senator Rick Scott agreed with the president, saying, “it’s time for new leadership at the Federal Reserve.” Trump’s public criticism of the Fed breaks a decades-long convention in American politics that sought to safeguard the central bank from political scrutiny, which includes any executive decision to replace the chair.  In an April 16 address at the Economic Club of Chicago, Powell said Fed independence is “a matter of law.” Powell previously signaled his intent to serve out the remainder of his tenure, which expires in May 2026.  Related: S&P 500 briefly sees ‘Bitcoin-level’ volatility amid Trump tariff war Crypto, risk assets look to the Fed for guidance The Federal Reserve wields significant influence over financial markets, with its monetary policy decisions affecting US dollar liquidity and shaping investor sentiment. Since the COVID-19 pandemic, crypto markets have increasingly come under the Fed’s sphere of influence due to the rising correlation between dollar liquidity and asset prices.  This was further corroborated by a 2024 academic paper written by Kingston University of London professors Jinsha Zhao and J Miao, which concluded that liquidity conditions now account for more than 65% of Bitcoin’s (BTC) price movements. As inflation moderates and market turmoil intensifies amid the trade war, Fed officials are facing mounting pressure to cut interest rates. However, Powell has…

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Filed under: News - @ April 18, 2025 9:17 am