Crypto Traders Watching as US Monetary Policy Continues Being Fought Over
🇺🇸🏦 With Trump expressing his disappointment in Jerome Powell & the FOMC leaving interest rates unchanged, social media has erupted with discussions. Crypto, like global stock markets, stand to benefit if and when rate cuts happen again.
Currently, Bitcoin is -6.8% below its May 22nd all-time high. And the S&P 500 is -2.6% below its February 19th all-time high. Expect for the Trump administration and the Fed to continue to clash over the future direction of monetary policy.
Trump is likely to pressure Powell and the Federal Reserve to lower rates in an effort to stimulate markets and bolster economic sentiment. Powell, however, may continue resisting political influence, arguing for a more cautious approach based on inflation data and long-term economic stability.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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