Is This the Reason Why Bitcoin Has Risen Recently? Trump Makes an "Emergency" Call to Jerome Powell

President Donald Trump once again pressured Federal Reserve Chairman Jerome Powell to lower interest rates, arguing that inflation is no longer a major concern and that maintaining high interest rates could lead to a recession in the U.S. economy. In today's statement, Trump pointed out that the decrease in energy and food prices are key indicators showing that inflation is being controlled. "Many people are calling for 'Preventive Cuts' in interest rates," Trump said. "Energy costs are falling sharply, food prices are decreasing significantly, and many other 'things' are trending down, with almost no inflation." The president warns that if the Fed does not act quickly, economic growth could stall. "We may have almost no inflation, but we could have a slowdown in the economy if he is too late, a big loser, does not lower interest rates right now," Trump said, referring to Powell by the nickname he has used in previous criticisms. Trump also hinted that the United States is falling behind, noting that the European Central Bank has cut interest rates seven times. Trump accused Powell of political bias during the 2020 election cycle, claiming that the Fed Chairman cut interest rates to benefit then-President Joe Biden and Vice President Kamala Harris. "Powell is always 'Too late', except during election cycles… How does that happen?" he added. The Fed Chairman has yet to respond to Trump's comments. Powell previously spoke about the importance of data-driven decisions and that the central bank is not influenced by political factors. The first interest rate cut in the United States is now expected to take place in June. The decision in May is expected to keep the interest rate unchanged. After Trump's statement, the price of BTC was attacked. The largest cryptocurrency in the world has risen by more than 3% in the past 24 hours at the time of writing.