Tariff uncertainty continues to spread, with the three major U.S. stock indices showing mixed performance yesterday (4/17). As global trade tensions threaten economic recovery in the region, the European Central Bank (ECB) cut interest rates for the seventh time since last June, lowering rates to a two-year low of 2.25%. Bitcoin remains stable at 84K, while ETH hovers below 1,600, with the top ten cryptocurrencies experiencing narrow fluctuations.
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ToggleECB Cuts Rates by One Point, Trump Attacks Powell Again
Due to global trade tensions threatening economic recovery in the region, the European Central Bank has cut interest rates for the seventh time since last June, lowering rates to a two-year low of 2.25%.
(ECB Cuts Rates to 2.25%, Warns of Trade Tensions Dragging Economic Prospects)
In contrast, the U.S. Federal Reserve is taking a wait-and-see approach amid tariff uncertainties, again provoking dissatisfaction from President Trump.
Trump launched a fierce attack on the Fed Chairman on social media, believing the central bank should lower interest rates this year. He also told reporters that if he wanted to, he could force Powell to step down.
Powell's term as Fed Chairman will continue until May 2026, and his term as Fed Board member will continue until February 2028. The day before Trump made these remarks, Powell spoke in Chicago, reiterating that the Fed is not in a hurry to cut rates but is waiting for economic conditions to become clearer.
Democratic Senator Elizabeth Warren stated in an interview on Thursday that the president, like everyone else, has freedom of speech, but he does not have the right to dismiss Powell. If he tries to do so, the market would collapse.
Even dictatorial countries try to establish central banks independent of the president to attract capital.
U.S. Data Mixed, Bitcoin Remains Stable at 84K
Thursday's economic data was mixed. U.S. initial jobless claims fell to 215,000, the lowest in two months, indicating a stable labor market.
U.S. housing starts in March decreased by 11.4% year-on-year, with a total of 1.324 million units, reaching a four-month low, showing that U.S. residential construction activity has sharply slowed under the dual pressure of tariffs and inflation.
On April 18, due to Good Friday, U.S. stocks and bonds were closed for the day.
Bitcoin remains stable at 84K, while ETH hovers below 1,600, with the top ten cryptocurrencies experiencing narrow fluctuations.
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