Trump: Interest Rates Should Fall to 1%, Powell and His Committee Are Both to Blame

On July 1st, based on CME's "FedWatch" data, the likelihood that the Fed will leave interest rates unchanged in July is 79.8%, while the probability of a 25-basis-point rate cut is 20.2%. There is a 5.3% probability that the Fed will maintain interest rates unchanged in September. The cumulative probability of a 25-basis-point rate cut is 75.9%, and the cumulative probability of a 50-basis-point rate cut is 18.8%.

On July 1st, Morgan Stanley analysts stated in a research report that the probability of the Fed cutting interest rates at the next two meetings is still relatively low. The market's probability of a rate cut in July has gone up from 8% to 20%, and the probability of a cut in September has risen from 60% to 90%. However, the analysts pointed out that most Fed officials support Powell's cautious attitude and are not likely to quickly switch to supporting a rate cut. The analysts anticipate that the upcoming jobs report will be relatively strong, indicating a slowdown in growth but no signs of a serious setback that would prompt the Fed to take more prompt action.

July 1st - According to Bloomberg, a cryptocurrency firm linked to the family of US President Donald Trump managed to raise $220 million. This information was stated in a filing submitted on Monday. The raised funds will be utilized to purchase Bitcoin and digital asset mining equipment. The company, named American Bitcoin, has Eric Trump, Trump's son, among its supporters. According to the filing by the company's major shareholder, Hut 8 Corp., American Bitcoin issued new shares to private investors last Friday. Approximately $10 million worth of shares were sold in Bitcoin instead of US dollars.

On July 1st, according to PeckShield's monitoring, there were around 15 significant cryptocurrency hacking incidents in June 2025. The total loss amounted to 111.6 million US dollars, which was a 56% decrease compared to May.

On July 1st, as per DL News, Polygon Labs has entered into a partnership with the crypto trading firm GSR to initiate a brand-new blockchain within the Ethereum ecosystem that focuses on Decentralized Finance (DeFi). This blockchain, named Katana, is intended to tackle the two most significant problems in the field: unsustainably high yields resulting from token inflation and the fragmentation of digital assets across dozens of blockchains and hundreds of applications.

On July 1st, as per Bloomberg, a Bitcoin mining firm tied to the Trump family intends to set up an office in Dubai. Dubai is swiftly emerging as a significant center for the cryptocurrency industry on account of its favorable tax and regulatory climate. According to the records from the Dubai International Financial Centre, Hut 8, which is headquartered in Miami, registered last week to establish the office. A company spokesperson affirmed that a team is being put together in Dubai and is concentrating on trading and cryptocurrency accumulation strategies. As per the year-end report, Hut 8 currently operates Bitcoin mining businesses in Texas and New York in the US, as well as in Alberta, Canada. Hut 8 is engaged in a new company that is partially owned by Donald Trump Jr. and Eric Trump. The company, named American Bitcoin, is receiving the major portion of Hut 8's Bitcoin mining equipment and is scheduled to go public this year through a merger with another publicly traded company.