Trump Criticizes Federal Reserve Chairman

On June 18, U.S. President Donald Trump criticized Federal Reserve Chairman Jerome Powell for not lowering interest rates, labeling him as “stupid.” This comes ahead of a significant decision from the Fed regarding interest rates.

While expressing skepticism about the possibility of an interest rate cut, Trump stated, “He is not a smart guy. He is worried about inflation. If there is inflation in six or nine months, you lower the rates or you raise the rates. You can do whatever you want. We have a stupid person, frankly, at the Fed. He probably won’t cut today.”

> PRESIDENT TRUMP JUST NOW:
> • POWELL PROBABLY WON’T CUT RATES TODAY
> • CALLS HIM “NOT A SMART GUY”
> • SAYS RATES SHOULD BE 2–2.5 POINTS LOWER
>
> Hard to disagree — it’s time for Powell to cut. pic.twitter.com/oxXmYTeTAL
> — Shay Boloor (@StockSavvyShay) June 18, 2025

Trump claims that lowering interest rates by 2-2.5% could save the U.S. $700-$800 billion on debt payments. Since Trump took office, the European Central Bank (ECB) has cut rates three times, while Powell has held steady, citing inflation concerns to ensure economic stability.

Trump stated, “Europe had 10 cuts, and we had none. And I guess he’s a political guy, I don’t know. He’s a political guy who’s not a smart person, but he’s costing the country a fortune.”

Will Trump’s Request Help Bitcoin Break the $110,000 Barrier?

Amid ongoing geopolitical tensions between Iran and Israel, the cryptocurrency market has suffered, losing significant liquidity and causing a decline in major cryptocurrencies like Bitcoin and Ethereum.

Bitcoin has fallen by 4.5% over the week, dropping from $110,000 to $104,787, while Ethereum declined about 12%, from $2,842 to $2,512. A potential interest rate cut from the Federal Reserve could help the cryptocurrency market recover.

On a positive note, on June 17, the U.S. Senate passed the GENIUS Act, a stablecoin bill, marking a significant win for stablecoin issuers. Additionally, JPMorgan is preparing to test its deposit token ‘JPMD’ after registering a trademark. These developments may spark a bullish trend in the cryptocurrency market, potentially aiding Bitcoin in surpassing the $110,000 threshold.

Also Read: Trump May Take Action to End Iranian Nuclear Enrichment: JD Vance