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.
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.
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.”
*This is not investment advice.