Trump Comments on Federal Reserve Rate Cut at Manhattan Bitcoin Bar

Wednesday, 18 September 2024, 21:24

Trump weighs in on the Fed's rate cut, claiming economic struggle or political maneuvering. His visit to PubKey reflects a growing embrace of Bitcoin. As the former president visits Manhattan's Bitcoin bar, his remarks signal a deeper connection with digital currency amidst changing fiscal policies.
Thehill
Trump Comments on Federal Reserve Rate Cut at Manhattan Bitcoin Bar

Trump's Federal Reserve Remarks

Former President Trump commented on the Federal Reserve's decision to cut interest rates by 50 basis points during his visit to PubKey, a Bitcoin bar in New York City. Coinciding with the rate cut, Trump stated, “I guess it shows the economy is very bad to cut it by that much, assuming they're not just playing politics.”

Context of the Rate Cut

This significant cut resulted in a new federal funds rate of 4.75% to 5%. It marks the Fed's first reduction after a prolonged campaign against inflation that peaked amidst the pandemic. Trump’s visit comes as he unveils plans for a new cryptocurrency platform, showcasing his transition from skepticism to endorsement of digital currencies.

Political Implications

With the 2024 election on the horizon, some Trump allies are questioning the timing of the Fed's decision, indicating it may influence the political landscape as the former president continues to address economic frustrations. 

Trump's embrace of cryptocurrencies reflects a broader shift in economic discussions, particularly as he prepares for a rally on Long Island.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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