Bitcoin's price increased by 2% on Sunday following Federal Reserve Chair Jerome Powell's commitment to resist legal pressure from President Trump. The Justice Department has issued grand jury subpoenas to the Fed, demanding evidence related to Powell's Senate testimony on office renovations. Powell described the legal action as part of broader threats from the administration, emphasizing the Fed's independence in setting interest rates. This development marks an unprecedented escalation in the conflict between Trump and Powell, with potential implications for the central bank's autonomy. The crypto market, sensitive to Fed policy, saw Bitcoin's price rise amid these tensions.
Bitcoin Rises 2% as Fed Chair Resists Trump's Legal Pressure
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