A giant and striking 12-foot golden statue of President Donald Trump holding a Bitcoin has been installed outside the US Capitol, drawing crowds and controversy. Trump’s statue unveiling came just as the Federal Reserve announced a 25-basis-point interest rate cut. According to ABC affiliate WJLA, the statue was funded by cryptocurrency investors.
“Organisers said the piece is intended to provoke debate about the future of digital currency, monetary policy, and the federal government’s role in financial markets,” according to reports.
Group members said the statue paid tribute to Trump’s outspoken support for cryptocurrency and is expected to draw attention from observers throughout the day.
Several visuals of the statue were posted on social media, praising the president’s pro-cryptocurrency stance.
FED CUTS RATES FOR FIRST TIME THIS YEAR
Marking the first time cut since December 2024, the Federal Reserve announced its key interest rate cut by a quarter-point. The cut will lower the short-term rate to about 4.1 per cent, down from 4.3 per cent.
The central bank has revealed that it has planned for two more rate cuts this year, but just once in 2026, which may disappoint Wall Street.
President Donald Trump’s relationship with the US central bank chief is marked by relentless attacks. However, all eyes are on Trump’s reaction to the key interest rate cut decision by Fed officials, led by Jerome Powell.
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