'Cut Interest Rates, Jerome': Trump Criticizes as Stocks Plunge

In the context of the current market volatility, Trump declared that Federal Reserve Chairman Jerome Powell must “stop playing politics” and quickly cut the federal funds rate. Wall Street Retreats, Trump Strikes: Fed Must Act ‘Quickly’ The trade war initiated by U.S. President Donald Trump has caused chaos across Wall Street, with leading stock indices experiencing unprecedented falls not seen since the severe downturn on March 11, 2020, when the pandemic first broke out. To cope with the increasingly difficult financial situation, Federal Reserve Chairman Jerome Powell addressed the situation, outlining the extent of the economic consequences. Immediately after his statement, Trump declared that this was the ideal time for the central bank to cut interest rates. “This will be the PERFECT time for Fed Chairman Jerome Powell to cut interest rates. He has always been ‘late’, but now he can change his image, and quickly,” the President declared on Truth Social. “Energy prices are falling, interest rates are falling, inflation is falling, even eggs are down 69%, and jobs are INCREASING, all within two months.” Trump added: A BIG WIN for America. CUTTING DOWN THE WHALES, JEROME, AND STOP PLAYING POLITICS! As of 3 PM Eastern Time on Friday, the Nasdaq Composite has fallen 5.33%, the NYSE has dropped nearly 6%, the Dow Jones Industrial Average has decreased by more than 2,000 points or 5%, and the S&P 500 has fallen 5.14%. The yield on the 10-year Treasury bond decreased by five basis points to 3.98%. Meanwhile, gold - a traditional safe haven - has stagnated, losing 2.9% of its value. In contrast, Bitcoin ( BTC ) stands out amid the chaos, rising 2% throughout the global financial crisis. Currently, BTC seems to be acting as a buffer against a broader recession.