Trump Pressures Powell to Cut Rates Again as US Economy Outperforms in Q2
Main Idea
The US GDP grew by 3% in Q2 2025, exceeding expectations and supporting President Trump's push for an interest rate cut, while Bitcoin's price remains high amid speculation about further gains.
Key Points
1. The US GDP growth in Q2 2025 was 3%, surpassing the anticipated 2% growth.
2. President Trump advocated for an interest rate cut following the GDP increase and a -0.5% correction in Q1 2025.
3. Bitcoin's price remained near its recent all-time high of over $123,000, with experts suggesting a potential rate cut could drive further gains.
4. The likelihood of an immediate rate cut during the upcoming FOMC meeting was considered very slim.
Description
The GPD report for the second quarter of the year in the United States is out and paints a more promising picture, registering an annualized rate of 3% in this period compared to last year’s. Immediately after the news went out, US President Donald Trump reiterated his stance that the Federal Reserve needs to lower the interest rates as soon as today. Perhaps in an attempt to prepare for Trump’s tariffs against multiple key partners, businesses piled up in Q1 this year, which resulted in less ec...
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