Fed Chair Powell Says Trump Policies to Blame for Lack of Rate Cuts

Key Points:

• Federal Reserve chair Jerome Powell said Tuesday he would have likely lowered interest rates in 2025 already if President Donald Trump hadn't pursued his volatile tariff agenda.
• Trump has been aggressively lobbying Powell to cut interest rates for months without success.
• Bitcoin's price was mostly unaffected by the statement, though the coin routinely rises and falls on interest rate-related news.