Former U.S. President Donald Trump has criticized the Fed again, urging rate cuts or resignation of Chairman Jerome Powell, in a statement on Truth Social.
Trump's Call to the Fed
On June 19, 2025, Donald Trump criticized Fed Chairman Jerome Powell on Truth Social, stating that he is ' costing America billions of dollars.' This statement was made following the Fed's announcement to keep interest rates unchanged.
Market Reactions
The Federal Reserve's decision to maintain rates at 4.25%–4.5% came amidst rising inflation and unemployment forecasts. Market reactions were subdued, with minimal volatility observed. Powell confirmed that no changes are planned in the near future, emphasizing that 'we are well-positioned to wait to learn more about the likely course of the economy.'
Cryptocurrencies Remain Resilient
Despite tensions in monetary policy, cryptocurrency markets, including Bitcoin, have shown resilience. As of the publication date, Bitcoin was priced at $104,677.65 with a market cap of $2.08 trillion. Over the past 60-90 days, Bitcoin has increased in price by 24.26% and 25.20% respectively.
Trump's criticism of the Fed did not lead to significant changes in financial markets, while cryptocurrency assets displayed resilience against macroeconomic challenges.
