Two Fed Governors Break Ranks, Call for an Immediate Rate Cut

Pressure on the Fed to cut rates is intensifying after a visit from President Trump and new internal dissent Two Fed governors have now openly called for a rate cut, the first such public dual dissent in 30 years A potential rate cut is seen as highly bullish for Bitcoin, as it would likely weaken the US dollar and boost risk assets. US President Donald Trump has once again intensified public pressure on Fed Chair Jerome Powell to aggressively cut interest rates. Last week, he visited the central bank’s HQ and even toured the Fed’s $2.5 billion renovation site, although Trump claimed that the price had jumped to over $3 billion due to increased restoration costs. The Fed subsequently justified the project, pointing to the aging, almost century-old infrastructure, the necessity of removing hazardous materials, and escalating construction expenses. Also, Powell disputed Trump’s higher figure due to the US President including a previously completed renovation from five years ago. Still, after the visit and meeting with Powell, Trump said the former may be ready to lower rates, citing inflation having cooled and other central banks easing policy. Thoug… The post Two Fed Governors Break Ranks, Call for an Immediate Rate Cut appeared first on Coin Edition .

Source: Coin Edition