Trump's Rate Cut Call Sparks Concern for Crypto Markets Amid Strong Jobs Report
The latest US jobs report has sparked concern for cryptocurrency markets as it suggests that the Federal Reserve may not lower interest rates in September. The August 2026 jobs report showed a strong rebound in hiring, with U.S. employers adding 162,000 jobs and the unemployment rate staying at 4.1%. This is far above the expected 65,000 jobs.
In a surprising move, President Trump has called on the Fed to lower interest rates, stating 'BE PATRIOTS for a change' and claiming that a strong country means a lower interest rate. However, financial markets reacted differently, increasing expectations that the Fed could raise rates instead of cutting them at its September 15-16 meeting.
Crypto markets have been closely watching the Fed's moves ahead of the September FOMC meeting, with Bitcoin (BTC) being highly sensitive to policy changes. The price of BTC went down to $77K and rate-hike odds rose to 57% after a hawkish speech by Fed Chair Kevin Warsh at Jackson Hole.