The U.S. Federal Reserve kept interest rates steady at 4.25%–4.50%. Trump has repeatedly criticized the Fed chair for a delay in action.
Fed Holds Rates Steady
At its meeting on June 19, the U.S. Federal Reserve maintained interest rates at 4.25%–4.50%, marking the fourth consecutive meeting without change. The projections show expectations for two rate cuts in 2025. Markets are now pricing in a 71% probability of a September cut, rising from 60%.
Trump Criticizes Fed Chair
On June 19, Donald Trump criticized Fed Chair Jerome Powell on Truth Social, labeling him 'Mr. Too Late' and attributing economic damage to him. He reposted an article suggesting Powell should resign if he refuses to cut rates. These comments highlight growing political tension over Fed policy.
JD.com Plans Stablecoin Launch
JD.com confirmed its plans to launch a stablecoin, potentially as early as Q4 2025, pending approval from HKMA. The company aims to issue a stablecoin pegged to HKD or USD, with transparent issuance data. JD’s blockchain arm was part of HKMA’s initial sandbox group and is now in Phase 2 testing.
The developments regarding U.S. interest rates and JD.com’s stablecoin plans indicate shifts in economic policy and growing interest in digital finance. Political pressures on the Fed chair might also influence market confidence.
