Trump Criticizes Powell, Calls for Cook’s Resignation
- Trump publicly criticizes Powell over interest rates, demands Cook’s resignation.
- Focus remains on rising mortgage rates and housing market challenges.
- No immediate cryptocurrency market impact from Trump’s statements.
Donald Trump has publicly criticized Federal Reserve Chair Jerome Powell on Truth Social, calling for abrupt interest rate cuts due to perceived negative effects on the U.S. housing market.
High interest rates, critiqued by Trump, affect U.S. mortgage availability and the housing sector, with potential indirect impacts on major cryptocurrencies like Bitcoin BTC -0.42% and Ethereum ETH -1.94% due to broader economic conditions.
Former President Donald Trump has recently launched a direct social media attack on Federal Reserve Chair Jerome Powell, criticizing his policies and calling for changes. This move highlighted growing tension over increasing interest rates affecting financial sectors.
Trump, through statements on Truth Social, accused Powell of hurting the U.S. housing market by maintaining high interest rates. Although his sharp critique targets Powell’s policy, Trump specifically demanded the resignation of Federal Reserve Governor Lisa Cook.
The criticisms have heightened awareness among economic observers and investors about the impact of Federal Reserve policies on housing and mortgage availability. Despite strong words, there appears to be no immediate shift in market or leader responses.
Industry experts note that Trump’s interventions haven’t historically caused direct changes, but do create public debate over the Federal Reserve’s direction. Financial markets remain cautious, with many watching for outcomes from the upcoming Jackson Hole meeting.
The cryptocurrency market, including BTC and ETH, showed no significant movements following Trump’s criticisms. Traders and analysts are evaluating potential ripple effects in broader financial markets due to increasing interest rates and macroeconomic conditions.
Past trends indicate that aggressive Fed actions, such as rate hikes, often lead to pressured crypto valuations. Lower rates or indications of easing can prompt rallies. Trump’s statements may influence upcoming Federal monetary policies, affecting market confidence. He remarked: “Could somebody please inform Jerome ‘Too Late’ Powell that he is hurting the Housing Industry, very badly? People can’t get a Mortgage because of him… There is no Inflation, and every sign is pointing to a major Rate Cut. ‘Too Late’ is a disaster!”
