Bitcoin Stumbles as Trump Threatens Tariffs Ahead of Fed Decision

The price of The original cryptocurrency was recently trading hands around $94,000, a 1.8% decrease over the past 24 hours, according to crypto data provider Most altcoins showed greater losses, with The Fed is expected to hold its benchmark interest rate steady on Wednesday, with traders penciling in a 97% chance that the central bank will maintain a target range of 4.25% to 4.5% for a third meeting in a row, according to Although Trump has If Powell’s comments put more of an emphasis on an economic slowdown as a risk to its dual mandate, as opposed to the threat of persistent inflation from tariffs, risk assets could rally, Bitwise Senior Investment Strategist Juan Leon told At the same time, Powell’s remarks could mirror the negotiating tactics from Trump’s trade war, electing not to take a firm stance on the economy’s overall direction to preserve the Fed’s maneuverability, in the event that Trump’s calculus on trade changes.“I think they’re trying to mirror Trump by holding their cards as close [to their chests] as they can,” Leon said. “Because of that, I think investors are going to be reading into whatever statements that Powell puts out.”The Fed is also scheduled to release a series of quarterly economic projections on Wednesday, which will indicate where each official on the Fed’s policy committee thinks interest rates should bear by year’s end. In December, the officials forecast two rate cuts this year of a quarter of a percentage point, Cryptocurrencies have rallied alongside stocks over the past couple of weeks as Trump has softened his rhetoric on tariffs, but he floated new ones this weekend.On Sunday, Trump said in a Edited by James Rubin