Trump’s assault on Federal Reserve independence could thrust cryptocurrencies into uncharted territory. A Dangerous Pattern Emerges In recent months, a troubling cycle has repeated: Donald Trump takes actions objectively harmful to the U.S. economy, markets crash, and he then pressures Fed Chair Jerome Powell to cut the federal funds rate. Powell, however, has stubbornly refused, replying: “No.” Trump wants lower rates to inject liquidity into the economy, boost market sentiment, and burnish ...

Trump’s assault on Federal Reserve independence could thrust cryptocurrencies into uncharted territory. A Dangerous Pattern Emerges In recent months, a troubling cycle has repeated: Donald Trump takes actions objectively harmful to the U.S. economy, markets crash, and he then pressures Fed Chair Jerome Powell to cut the federal funds rate. Powell, however, has stubbornly refused, replying: “No.” Trump wants lower rates to inject liquidity into the economy, boost market sentiment, and burnish ...