Is This the Reason for the Latest Surge in Bitcoin? Trump Made an 'Urgent' Call to FED Chairman Jerome Powell!

President Donald Trump argued that inflation is no longer a concern and that maintaining high interest rates could lead to a slowdown in the U.S. economy, once again pressuring Fed Chairman Jerome Powell to lower interest rates.

In his statement today, Trump pointed to falling energy and food prices as key indicators that inflation is under control. Trump said, "Preventive cuts in interest rates are being called for by many," and added, "Energy costs have dropped significantly, food prices have decreased considerably, and many other 'things' are on a downward trend, there is almost no inflation."

The President warned that economic growth could come to a halt if the FED does not act quickly. Trump referred to Powell by a nickname he used in past criticisms, saying, "There may be almost no inflation, but if Mr. Too Late, a big loser, doesn't lower interest rates now, there could be a slowdown in the economy."

Trump also pointed out that the European Central Bank has lowered interest rates seven times, claiming that the U.S. has fallen behind. Accusing Powell of political bias during the 2020 election cycle, Trump alleged that the Fed Chairman lowered rates to benefit then-President Joe Biden and Vice President Kamala Harris. "Powell has always been 'too late', except during election periods... How did this turn out?" he added.

The FED Chairman has not yet responded to Trump's remarks. Powell had previously stated the importance of data-driven decisions and that the central bank is independent of political influences.

The first interest rate cut in the US is expected to be in June under the current circumstances. In the decision for May, it is anticipated that interest rates will be kept steady.

Following Trump's statement, there was a surge in the price of BTC. The world's largest cryptocurrency has gained more than 3% in value in the last 24 hours as this article is being written.