President Donald Trump said on Sunday that the United States should pay the world’s lowest interest rates, no matter the data, days before the Federal Reserve’s Wednesday meeting.
Fresh Consumer Price Index figures posted their largest increase in four months. That has pushed traders to raise their bets on a rate hike this week.
Markets now assign roughly an 86% probability that the Fed lifts its benchmark rate from 3.5% to 3.75%. That would mark the first increase in three years.
Inflation has also been fueled by tariffs and rising energy costs tied to the war in Iran.
Trump made the remarks at the Irish Open golf tournament in Ireland. He spoke even as his own pick for Fed chair, Kevin Warsh, faces mounting pressure to tighten policy.
“I know more about formulas than anybody, and with the best credit in the world, we make other countries rich.”
Two weeks ago, Trump escalated his pressure campaign in public, threatening to halt trade with deficit countries unless rates come down.
The Fed’s meeting lands weeks before midterm elections that could decide control of Congress. A hike risks deepening voter frustration over affordability.
Jeremy Siegel says Trump’s midterm pressure campaign is one of the few forces still blocking a hike. That is despite hike odds going over 850 as of last week’s inflation print.
National Economic Council Director Kevin Hassett said Trump would defend Warsh’s independence regardless of the outcome. He added Trump would not be pleased if rates rise anyway.
Whether the Fed hikes Wednesday may depend less on Trump’s demands than on Warsh’s political room to maneuver.
The post Trump Demands Lower Rates Even as Hike Odds Rise: Is He Worried About the Midterms? appeared first on BeInCrypto.
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Today in crypto, US Senate Republicans unveiled what they called their final CLARITY Act proposal ahead of a pivotal procedural vote this week, Revolut disclosed a customer data breach caused by a sophisticated government email impersonation scam and Nvidia is reportedly weighing a record-breaking investment in Anthropic ahead of its planned IPO.US Republicans send ‘final’ CLARITY Act offer to DemocratsSenate Republicans on Sunday released revised text of the CLARITY Act aimed at swaying Democrats ahead of a procedural vote on Tuesday, featuring major changes to rules relating to government officials’ involvement with digital assets.The 635-page proposal, released by US Senate Banking Digital Assets Subcommittee Chair Cynthia Lummis alongside Chairmen John Boozman and Tim Scott, also includes changes to the Blockchain Regulatory Certainty Act (BRCA) and provisions governing stablecoin yield. Lummis said the new ethics provisions had been agreed to by US President Donald Trump. “After a year of intense daily bipartisan negotiations, this bill is ready,” she said. “President Trump voluntarily agreed to unprecedented ethics restrictions, holding every federally elected official, judge, and their spouses to some of the toughest ethics restrictions in US history.”The new bill text comes just two days before a procedural vote on the CLARITY Act on Tuesday at 2:15pm ET, which will determine whether the Senate can advance the bill toward floor consideration. The proposal has been described as a final offer on the bill, a Republican aide told reporters on Sunday.Revolut says customer data exposed through fake government emailFinancial tech and banking company Revolut released sensitive customer data, including copies of passports, verification selfies and full transaction histories after receiving a fraudulent request that seemed to be from a government agency. Requests for customer information sent from a legitimate government agency email domain passed Revolut’s authentication checks, according to International Cyber Digest posting on X. Revolut later concluded they were not authentic, and customers whose information was compromised were notified on Friday. A company spokesperson told Cointelegraph on Saturday that “Revolut recently identified a sophisticated external impersonation scam where an unauthorised third party utilised a legitimate government agency domain email to submit fraudulent requests for information.”The spokesperson added that upon detection, Revolut blocked the address and alerted the relevant government agency. It also notified enforcement agencies and financial regulators.Nvidia considers $10 billion investment in potential record Anthropic IPOAnthropic is in talks with Nvidia about a potential $10 billion investment in what may be the biggest IPO in history, Reuters reported on Saturday, citing people familiar.The people said Anthropic is seeking to raise as much as $100 billion in the offering, which could value the AI company at about $2 trillion.The discussion is ongoing and could change, the people told Reuters, remaining anonymous amid the confidential negotiations.Nvidia could supply Anthropic with an early strategic backer for the offering and also strengthen ties between the chipmaker and an important customer.Reuters said that Anthropic declined to comment and that Nvidia had yet to respond to a request for comment.
Several major crypto token unlocks are scheduled for the third week of September 2026, potentially increasing circulating supply and creating short-term price volatility. LayerZero (ZRO),
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