Crypto Market Eyes Strong Rally As Trump Criticizes Fed Chair Powell’s Rate Cut Plans

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Crypto Market Eyes Strong Rally As Trump Criticizes Fed Chair Powell’s Rate Cut Plans - CoinGape

Quick Summary:

The crypto market is poised for a significant rally as President Donald Trump criticized Federal Reserve Chair Jerome Powell’s interest rate cut plans. The President’s approach to cryptocurrencies, coupled with these recent comments on the Fed’s monetary policy, has sparked enthusiasm within the crypto community.

If Jerome Powell reduces interest rates in response to Trump’s call, a bullish rally could be on the horizon.

Significantly, the ECB reduced the deposit facility rate by 25 basis points to 2.25%. Reportedly, the ECB lowered its key interest rates, cutting the main refinancing rate to 2.4% from 2.65% and the marginal lending rate to 2.65% from 2.9%.