{"id":42074,"date":"2025-08-13T22:46:35","date_gmt":"2025-08-13T22:46:35","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=42074"},"modified":"2025-08-13T22:46:35","modified_gmt":"2025-08-13T22:46:35","slug":"bitcoin-climbs-toward-121k-amid-trumps-legal-threats-against-powell","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=42074","title":{"rendered":"Bitcoin Climbs Toward $121K Amid Trump\u2019s Legal Threats Against Powell"},"content":{"rendered":"
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US President Donald Trump is weighing legal action<\/a> against Federal Reserve Chair Jerome Powell, tying the clash to his demand for an immediate interest rate cut.<\/p>\n

The standoff comes after fresh inflation data showed consumer prices cooling more than expected, raising speculation over how the Fed\u2019s next move could ripple into digital asset markets.<\/p>\n

Bitcoin Rises On Trump-Powell News<\/h2>\n

Despite the political drama, Bitcoin price<\/a> inched closer to $121,000, signaling strong market momentum.<\/p>\n

\"\"<\/p>\n

Renovation Costs Row Puts Fed Under Pressure<\/h2>\n

In a Truth Social<\/a> post, Trump said he\u2019s considering allowing a major lawsuit to proceed against Powell over the cost of Federal Reserve building renovations.<\/p>\n

He claimed the project should have been a $50 million \u201cfix-up,\u201d not a $3 billion overhaul. Reports have disclosed that Powell was previously referred to the Department of Justice for alleged perjury tied to the same costs.<\/p>\n

\"\"<\/p>\n

During a recent visit to the Fed to inspect the renovation, Trump once again pressed Powell to cut rates. The president accused the Fed chief of acting \u201ctoo late\u201d on key policy decisions, calling the damage \u201cincalculable.\u201d<\/p>\n

Rate cuts<\/a> are typically seen as bullish for risk assets, including Bitcoin and other cryptocurrencies, as they can weaken the US dollar and encourage more speculative investment.<\/p>\n

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President Donald Trump said he is weighing a lawsuit against Federal Reserve Chair Jerome Powell over the renovation of the central bank\u2019s headquarters, a project whose cost overruns have drawn scrutiny. https:\/\/t.co\/1WQIlBDlcb<\/a><\/p>\n

\u2014 Bloomberg Law (@BLaw) August 12, 2025<\/a><\/p>\n<\/blockquote>\n

Cooling CPI Data May Boost Rate-Cut Odds<\/p>\n

The latest Consumer Price Index showed a 2.7% year-over-year rise in July, lower than the forecasted 2.8%. Monthly CPI eased to 0.2% from the previous 0.3%.<\/p>\n

Based on reports<\/a>, the data suggests Trump\u2019s tariffs have not pushed inflation higher, undermining the Fed\u2019s earlier caution on cutting rates. Trump said tariffs aren\u2019t hurting consumers, claiming large amounts of cash are flowing into the US.<\/p>\n

<\/p>\n

A rate cut in this environment could create a more favorable backdrop for crypto prices, as cheaper borrowing and weaker yields in traditional assets often drive more interest in alternative stores of value like Bitcoin and Ethereum.<\/p>\n

Miran Backs Trump\u2019s Economic View<\/p>\n

Stephen Miran, Trump\u2019s nominee for the Fed Board, told CNBC <\/a>that inflation is \u201cwell behaved\u201d and running at a 1.9% annualized rate since Trump took office. He stressed that CPI data rarely gets revised and there\u2019s no sign of tariff-driven inflation.<\/p>\n

His comments align with Trump\u2019s position and add to the market\u2019s expectations that the Fed may shift toward easing sooner. Crypto traders are watching closely, as a dovish Fed stance could ignite rallies across major tokens.<\/p>\n

The combination of political heat, legal threats, and softer inflation data is putting Powell in a tight spot. If rate cuts arrive faster than expected, crypto markets could see a surge in momentum \u2014 and Bitcoin\u2019s move toward $121,000 suggests investors may already be positioning for it.<\/p>\n

Featured image from Meta, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

US President Donald Trump is weighing legal action against Federal Reserve Chair Jerome Powell, tying the clash to his demand for an immediate interest rate cut. The standoff comes after fresh inflation data showed consumer prices cooling more than expected, raising speculation over how the Fed\u2019s next move could ripple into digital asset markets. Bitcoin […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-42074","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/42074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42074"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/42074\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}