Democrats 'chose visceral hatred for' Donald Trump over crypto Clarity Act, Lummis says
Senator Cynthia Lummis said the crypto industry should "pin it on the Democrats" in her first public remarks after last week's failed Clarity Act vote.
Kevin Warsh, the newly appointed Federal Reserve Chair, has increased interest rates despite President Donald Trump's hopes for cheaper borrowing costs. This unexpected move has strained their relationship. Warsh, known for his ambition and experience in monetary policy, has strengthened his independence from Trump's wishes, unlike previous Fed Chair Jerome Powell.
Trump, who had campaigned on lower interest rates and praised Warsh's appearance, has been cautious in his reaction to the rate hike, distancing himself from personal criticism of Warsh while questioning the political stance of other Fed members. The complex relationship between the two powerful men in American politics remains uncertain, with Trump's support seeming to hinge on Warsh's commitment to price stability amidst inflation concerns.
Written by urgent.news from NZZ Wirtschaft's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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