Trump Urges Powell to Cut Rates After Soft CPI, What’s Next for Bitcoin?

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BTC was volatile at around $92,000-$92,500 after the CPI news went out.

Data from the US Bureau of Labor Statistics reported Tuesday that the consumer price index showed a minor increase of 0.3% on a monthly basis and 2.7% annually.

The core CPI, though, which excludes more volatile sectors like food and energy, was slightly better, with a rise of 0.2% monthly and 2.6% annually. Both indices were 0.1% below expectations.

The reaction by the US President Donald Trump was immediate. He has been urging the US Federal Reserve Chair Jerome Powell to cut the interest rates for almost a year and a half, and the CPI data from today gave him new arguments to do so.

After continuing to call him ‘too late’ Powell (for not lowering the rates on time), Trump said the Fed Chair should “cut the interest rates, MEANINGFULLY!!!’ Thus, the POTUS kept on pressing Powell after the recent US DOJ actions, which the latter believes were initiated by Trump himself.


#IP/USDT which crossed All the Profit Targets for an humongous gain of 420%

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