Former President Donald Trump responded on Wednesday to the news that the Federal Reserve had moved to cut interest rates by a dramatic 0.5%, saying that there were only two possible reasons for such an aggressive move.
According to Trump, the only truly legitimate reason to slash interest rates by that much would be to spur on a sluggish economy — a move that certainly would seem warranted as prices at the grocery store remain stubbornly high and recent jobs numbers have had to be revised downward.
But the former president also acknowledged that the move could be more political than practical, given the fact that the rate cut was announced with less than two months to go before the 2024 presidential election on November 5.
The Wall Street Journal’s Alex Leary posted Trump’s initial response via X, saying, “Trump visits bitcoin bar in NYC. On the FED, he says: ‘I guess it shows the economy is very bad to cut it by that much, assuming they’re not just playing politics. The economy would be very bad or they’re playing politics, one or the other. But it was a big cut.'”
Fox News’ Neil Cavuto shared video of Trump’s comments, capturing his first ever Bitcoin transaction on camera as well.
Trump appeared to be in good spirits despite the drama that unfolded over the weekend, as he laughed about “making history” as someone informed him that he was the first president or former president to make such a transaction.
Just three days earlier, on Sunday afternoon, U.S. Secret Service agents foiled a second assassination attempt on Trump. Agents — who were scouting the scene one hole ahead of the former president at his golf course in Palm Beach — spotted what appeared to be the barrel of a rifle sticking through the fence. They were able to engage the shooter and apprehend him after he attempted to escape by car.
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