Golden Trump Statue with Bitcoin Installed Near Capitol as Fed Cuts Rates
WASHINGTON (7News) – A 12-foot golden statue depicting former president Donald Trump holding a Bitcoin was placed outside the U.S.Capitol on Wednesday, coinciding with a key decision from the Federal Reserve. The statue’s installation occurred as the fed announced a quarter-point reduction in its key interest rate, the first cut as December 2023.
The rate cut lowers the short-term rate to approximately 4.1% from 4.3%. This move follows three rate reductions last year,implemented amid concerns about slowing job growth and rising unemployment.
The Federal Reserve also signaled plans for two additional rate cuts this year, though projections for only one cut in 2025 may fall short of Wall Street expectations, which anticipated five cuts by that time.
Funded by a collective of cryptocurrency investors, the temporary art installation on 3rd Street – on display from 9 a.m. to 4 p.m. – aims to spark discussion about the future of digital currency, monetary policy, and the government’s role in financial markets.
“The installation is designed to ignite conversation about the future of government-issued currency and is a symbol of the intersection between modern politics and financial innovation,” explained hichem Zaghdoudi, a representative of the investor group. “As the Federal Reserve shapes economic policy, we hope this statue prompts reflection on cryptocurrency’s growing influence.”
Organizers stated the statue also recognizes Trump’s vocal support for cryptocurrency and anticipates it will attract significant public attention throughout the day.
