Trump vs Fed: Markets Bet on Rate Hike Despite His Calls

Markets are pricing in a 25 basis point Federal Reserve rate hike in September despite President Trump's calls for cuts. The current benchmark rates sit at 3.50%, 3.75%. August jobs data is expected to be the trigger, with weak payrolls potentially reversing the trend and spurring a risk-on rally that boosts crypto adoption.

Trump has repeatedly called current interest rates too high, arguing strong economic data should make the US a better borrower. However, Fed Chair Kevin Warsh undercut this message, putting it on a direct collision course with President Trump's views.