{"id":127660,"date":"2025-04-22T04:17:20","date_gmt":"2025-04-22T04:17:20","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=127660"},"modified":"2025-04-22T04:17:20","modified_gmt":"2025-04-22T04:17:20","slug":"us-dollar-stocks-tumble-and-crypto-gains-as-trump-amps-up-pressure-on-fed","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=127660","title":{"rendered":"US dollar, stocks tumble and crypto gains as Trump amps up pressure on Fed"},"content":{"rendered":"

Source: Cointelegraph.com NewsCrypto markets avoided the fallout caused by US President Donald Trump\u2019s latest salvo against Federal Reserve Chair Jerome Powell, which saw the US stock market slump and the dollar continue to weaken over uncertainty.
\nStock markets across the United States ended April 21 in the red, with the S&P 500 dropping 2.4%, the tech-heavy Nasdaq slipping 2.5%, and the Dow Jones losing 2.5%, or nearly 1,000 points, according to Google Finance.\u00a0
\nThe S&P 500 has now declined by more than 12% since the beginning of the year, and the Nasdaq is down almost 18% in the US tech stock exodus.\u00a0
\nUS stock heatmap. Source: TradingViewThe stock slide follows escalating tension between Donald Trump and Jerome Powell and growing concern over the impact of trade tariffs.\u00a0
\n\u201c\u2018Preemptive Cuts\u2019 in Interest Rates are being called for by many,\u201d Trump wrote on his social media platform Truth Social on April 21.\u00a0
\n\u201cWith Energy Costs way down, food prices substantially lower, and most other \u2018things\u2019 trending down, there is virtually No Inflation,\u201d he added.\u00a0
\nTrump has reiterated his call for lowering interest rates, which Powell, who has been labelled as \u201cMr. Too Late\u201d and a \u201cmajor loser\u201d by the POTUS, has kept high at 4.5%.\u00a0
\nSource: Donald TrumpLast week, Powell took a swipe at Trump\u2019s trade tariffs, saying they could lead to a dangerous economic mix of rising prices and slowing growth, or \u201cstagflation.\u201d
\nTrump responded with a call to fire the central bank chair, stating at the time that his \u201ctermination cannot come fast enough.\u201d\u00a0\u00a0
\nThe Fed is expected to maintain its wait-and-see policy approach at its May 7 meeting, with interest rate markets predicting just a 13% chance of a rate cut, according to CME Fed Watch.
\nUS dollar devaluation continues\u00a0
\nThe US Dollar Index (DXY) \u2014 a measure of the strength of the greenback against a basket of leading currencies \u2014 has also slipped more than 10% so far this year. This week it fell to a three-year low below 98 on April 21, according to TradingView.\u00a0
\n\u201cEveryone needs and wants a weaker dollar to service their dollar debts,\u201d commented Real Vision founder and CEO Raoul Pal on April 22. \u201cThis is the purest form of global liquidity and is the largest driver of global M2 [money supply] currently,\u201d he added.\u00a0\u00a0
\nRelated: US dollar goes ‘no-bid’ \u2014 5 things to know in Bitcoin this week\u00a0
\nMeanwhile, crypto markets have held on to weekend gains with total capitalization remaining at $2.83 trillion at the time of writing.\u00a0
\nBitcoin (BTC) is keeping digital asset markets buoyed, hitting a four-week high of $88,500 on April 22.\u00a0
\n\u201cAmid one of the most turbulent periods for global markets in years, Bitcoin is showing impressive resilience,\u201d commented Bitfinex analysts in a recent market update.\u00a0
\nMagazine: Altcoin season to hit in Q2? Mantra\u2019s plan to win trust: Hodler\u2019s DigestRead More<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Source: Cointelegraph.com NewsCrypto markets avoided the fallout caused by US President Donald Trump\u2019s latest salvo against Federal Reserve Chair Jerome Powell, which saw the US stock market slump and the… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127660"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=127660"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/127660\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=127660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=127660"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=127660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}