On Truth Social, Trump accused Powell of doing a “terrible and incompetent” job in renovating Fed buildings. He also claimed Powell committed perjury in this matter, adding that the Justice Department has made similar allegations. This further increased the political pressure on the Fed Chair. 

Last month, Trump visited the Federal Reserve to inspect the ongoing renovation projects. During his visit, he urged Powell to lower interest rates. The president stressed that the Fed was too late in taking action, causing significant harm to the U.S. economy. 

CPI Data and Tariff Debate 

Trump’s comments came after the release of July’s U.S. Consumer Price Index (CPI) data. The report showed annual inflation at 2.7%, below the expected 2.8%, while monthly CPI fell from 0.3% to 0.2%. These results reinforced Trump’s view that tariffs had a limited impact on inflation. 

The president stated that tariffs brought large sums of money into the U.S. and that consumers did not bear the costs. Moreover, he argued that tariffs did not create price pressures as the Fed had anticipated. Powell, however, maintained that the best approach was to wait and assess the tariffs’ effects before making a rate cut decision. 

Stephen Miran, Trump’s nominee for the Fed Board of Governors, also commented positively on the CPI data. Miran said inflation was “performing well” and that there was no evidence of tariff-driven price increases. He also noted that since Trump took office, annual CPI inflation had averaged 1.9%. 

These developments indicate that the tension between the Fed and the White House over interest rate policy is set to continue. 

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Trump to Powell: Cut Rates or Face a Lawsuit! appeared first on Coin Engineer.

Wednesday, July 30 – The Most Important Day of the Week 

2:00 PM ET – FED Interest Rate Decision 
The U.S. Federal Reserve will announce its interest rate decision for July. The expectation is that rates will remain unchanged. However, the guidance and economic assessments in the statement will be highly significant. 

2:30 PM ET – FED Chair Powell’s Press Conference 
Powell’s comments could be decisive for market pricing. Messages such as “higher rates for longer” or “economic softening” may cause sharp moves in the crypto market. 

The White House will also release its cryptocurrency policy report. 

Other Key Data Releases 

Tuesday, July 29 
10:00 AM ET – U.S. Consumer Confidence (July)
Expectation: 96.0 | Previous: 93.0
An increase in consumer confidence could signal economic vitality and impact risk assets. 

Wednesday, July 30
8:15 AM ET – ADP Private Sector Employment (July)
Expectation: 80K | Previous: -33,000
Labor market recovery may influence FED policies. 

8:30 AM ET – U.S. GDP (Q2) 
Expectation: 2.3% | Previous: -0.5%
Positive growth data may support risk assets, including crypto. 

Thursday, July 31 
8:30 AM ET – Core PCE (June)
Annual Expectation: 2.7% | Previous: 2.7%
PCE is a key inflation gauge for the FED and will influence monetary policy outlook. 

• Friday, August 1 
  8:30 AM ET – U.S. Nonfarm Payrolls (July)
  Expectation: 109,000 | Previous: 147,000 
• 8:30 AM ET – Unemployment Rate (July)
  Expectation: 4.2% | Previous: 4.1% 
• 8:30 AM ET – Average Hourly Earnings (July)
  Expectation: 0.3% | Previous: 0.2%
  Weakening labor market data could alter expectations for future FED rate moves. 
• Trump administration’s country-specific tariffs will officially take effect on August 1. 

With growth, inflation, and employment data alongside the FED decision, this week could set the direction for crypto markets. High volatility is especially expected on Wednesday. Investors should carefully adjust their positions based on announcements.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.  

The post This Week’s Economic Events Impacting Crypto Markets! appeared first on Coin Engineer.

Bitcoin Drops Sharply: Could $78,000 Be Tested?

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $82,037 before rebounding slightly toward $85,000. However, market weakness persists, raising concerns that $78,000 levels could be retested.

This sharp decline was triggered by the activation of US trade tariffs against Mexico and Canada, adding further uncertainty. Additionally, the lack of clarity on the US strategic crypto reserve plan is fueling further hesitation in the market.

Trump’s Trade Policies Weigh on Bitcoin!

In its latest market analysis, QCP Capital noted that renewed tariffs on Canada, Mexico, and China have amplified investor concerns over growing trade tensions.

Even the SEC’s recent move to pause and dismiss enforcement cases against crypto firms failed to ease selling pressure, indicating a broader risk-off sentiment. The firm further stated:

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

“This downturn could intensify pressure on Trump, especially after the strong support and donations he received from the crypto community during his campaign.”

Is There Hope for a Market Rebound?

Despite the negative sentiment, analysts at Mosaic Asset see potential for a short-term rally. They argue that bearish sentiment and oversold conditions often pave the way for a rebound.

Additionally, historical trends in S&P 500 seasonality suggest that March could be a strong month for risk assets. Over the past 15 years, March has been the best-performing month in the first half of the calendar year.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Bitcoin Sags Toward $80K as US Dollar Bounces Off 12-Week Low! appeared first on Coin Engineer.