Trump Urges Fed to Cut Rates at White House Crypto Event

Trump also calls for swift passage of the CLARITY Act, which would establish a regulatory framework for digital assets

President Donald Trump said on Aug. 19 that the strength of the U.S. economy should be grounds for lower interest rates. He renewed pressure on the Federal Reserve, criticizing the central bank for keeping borrowing costs high because of inflation concerns. Trump also brought leading digital-asset executives, including figures from Coinbase and Robinhood, to the White House and pushed for quick congressional passage of the CLARITY Act.

Trump made the remarks at a White House event with cryptocurrency industry leaders, Yonhap News Agency reported. “Interest rates should not go up because of our country’s success,” he said. “They should be able to come down with success.”

When the U.S. releases strong economic data, policymakers remain too fearful of inflation and keep rates elevated, Trump said. There is no need for that, he added, and rates should instead be allowed to fall. The comments were another broadside against the Fed, which has kept rates at a high level amid concern that inflation pressures could intensify. Trump has repeatedly called for rate cuts, arguing the central bank has kept policy too tight.

Trump also said the so-called CLARITY Act would be critical to preserving U.S. leadership in emerging technologies, Bloomberg News reported. The bill would divide oversight of digital-asset markets between the Securities and Exchange Commission and the Commodity Futures Trading Commission. It would also clarify regulation of decentralized finance and interest payments on stablecoins.

Attendees at the event included Coinbase Chief Executive Officer Brian Armstrong, Gemini founders Tyler and Cameron Winklevoss, Payward co-CEO Arjun Sethi, whose company operates the Kraken exchange, and Robinhood CEO Vlad Tenev.

“Congress must pass a fair form of the CLARITY Act and move to the next stage,” Trump said. “This is very powerful framework legislation that will allow us to stay ahead of China and every other competitor.”

Trump has positioned himself as a strong supporter of the digital-asset industry during his presidency, advancing policies seen as friendly to the sector. But crypto executives have recently voiced concern that a congressional impasse over the CLARITY Act could keep earlier gains from being fully cemented.

The bill remains pending in the Senate as Democrats and Republicans clash over ethics provisions tied to Trump’s own involvement in the digital-asset industry. Trump reported earning $1.4 billion last year from crypto- and memecoin-related businesses, the largest share of his total income.

Federal regulators, however, are moving ahead to address legal gaps, led by the SEC and the CFTC, with the aim of giving the industry clearer rules. The SEC has unveiled a plan to exempt certain token issuances from securities registration requirements to support startups and early-stage fundraising.

CFTC Chairman Michael Selig and SEC Chairman Paul Atkins also attended the event. The CFTC is set to hold the first meeting of its innovation advisory committee on Aug. 20. The panel includes the CEOs of Coinbase, Robinhood, prediction-market platform Kalshi and Polymarket.

Kang Kyung-ju, Hankyung.com reporter, qurasoha@hankyung.com