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Title: ‘Cut interest rates, Jerome, and stop playing politics!’ pressures Donald Trump – Why?
As the global economic landscape continues to shift, a heated debate has emerged on whether the Federal Reserve should intervene by slashing interest rates. This contentious topic has taken center stage, with none other than President Donald Trump weighing in on the matter.
Trump’s impassioned plea to Jerome Powell, the Fed Chair, demands that he “Cut Interest Rates, Jerome, and stop playing politics!” But what lies beneath this bold statement? Why is the President so adamant about this course of action?
To begin, it appears that market anxiety has reached a fever pitch. The 10-year Treasury yield dipped below 4%, signaling a growing unease among investors about a potential recession. As a result, traders are now pricing in at least four quarter-point rate cuts in 2025 – a stark contrast to the Fed’s previous forecast.
The labor market also remains shrouded in uncertainty. Although the unemployment rate crept up to 4.2% in March, an unexpected surge of new jobs was reported, indicating that economic resilience still exists. However, inflation remains a pressing concern, with the Consumer Price Index rising by 2.8% year-over-year in March.
As if this wasn’t enough, the cryptocurrency market has also been gripped by uncertainty, initially plummeting before showing signs of recovery. Notable players such as Coinbase and Strategy (MSTR) have begun to rebound, while mining firms like Mara Holdings (MARA) posted modest gains. The broader crypto landscape is slowly regaining its footing, with Bitcoin hovering around $83,000.
It’s against this backdrop that Trump’s call to action takes on greater significance. As the world teeters on the edge of recession, it’s crucial for policymakers to act swiftly and decisively. By doing so, they may be able to stabilize the economy and quell investor anxiety.
Source: https://ambcrypto.com/cut-interest-rates-jerome-and-stop-playing-politics-pressures-donald-trump-why/
