The Federal Reserve is an independent bank and government-backed company (GSE), not the Federal Government Office or Office. Thus, the President and Congress cannot dismiss the FED chairman and name the new supportive monetary policy.
Fed is set up an independent central bank.
However, the Trump pressure campaign on Powell can be re -cut. He did last time when Trump was in office after the President publicly called for him to publicly reduce prices differently from everything the US has seen in recent history.
Trump pushes Powell's tariffs to reduce
Trump is not the most traditional type if it does not suit him. It is unusual when the President talks to establish a FED chair determination policy. It is not uncommon for presidents to emphasize their messages with insults.
But Trump is an economist, business manager and Micromager. In politics, he considers them to be realistically useful in the realization of government power. He also has a sarcastic, thorny Steve Jobs/Jack Welchi personality.
As if to support the President in terms of interest rates, S&P 500 closed 2.5% The lower day after he began to spray Jerome Powell to get in April earlier.
Is history repeated in terms of bitcoin prices?
In the truth of the social media application, Trump said that the economy was at risk of slowing down, “If Mr. Too late, the big loser, now loweres interest rates.” In the meantime, his breed after the US Bitcoin reserve is a new global gun competition for BTC.
If he receives cuts of interest rates, the price of Bitcoin may also increase rapidly again.
At this time in 2019, BTC traded for $ 5,000 and Trump played Same game. In about the next 12 months, Fed finally reduced the tariffs to zero. 12 months after that, BTC traded for $ 60,000.
On the last Friday of April, Bitcoin punched over $ 95,000, Bulls watched $ 100,000.
Binance Free $ 600 (Cryptopotato Exclusive): Use this link to register a new account and to get an exclusive greeting offer of 600 -Dollaris on Binance (Complete details).
Bybiti Cryptopotato Readers Limited Offer: Use this link to register and open each coin of 500 -Dollar free position!
