BREAKING: US President Donald Trump Delivers His Anticipated Economic Speech – Also Addresses Cryptocurrencies
US President Donald Trump criticized Federal Reserve Chairman Jerome Powell, calling him an 'idiot' and attacking his interest rate policies. Trump projected a 4.2% or higher economic growth rate for the third quarter and announced he would not attend the G20 Summit in South Africa. Notably, Trump expressed positive views on cryptocurrencies, claiming they ease pressure on the dollar and declaring the US as the 'Bitcoin superpower' and 'crypto capital of the world.'
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Criticism of Fed Chairman Powell
In his economic statements today, US President Donald Trump both harshly criticized Fed Chairman Jerome Powell and gave striking messages about the country's cryptocurrency policies. Trump, using the phrase “Fed Chair Powell is an idiot,” once again attacked interest rate policies. He had previously accused Powell of “slowing down the national economy,” and argued that gas prices would fall back to $2 a gallon.
Economic Growth Projections
President Trump announced that the US economy is expected to grow 4.2% or higher in the third quarter. He also announced that he will not attend the G20 Summit in South Africa.
Positive Remarks About Cryptocurrencies
The most striking part of his economic speech was his positive remarks about cryptocurrencies. Trump said that digital assets “relieve pressure on the dollar” and argued that the US would be a pioneer in this area: “We are making the US the Bitcoin superpower, the crypto capital of the world.”
Disclaimer
This is not investment advice.