Fed faces rare revolt not seen in over three decades originally appeared on TheStreet.

Federal Reserve (Fed) Chairman Jerome Powell is under pressure, as President Trump intensifies his calls for drastic rate cuts.

On July 30, President Donald Trump posted on the social media platform Truth Social, saying, "Too Late must now lower the rate. No inflation! Let people refinance their homes!"

As the U.S. central bank prepares to announce its policy decision on Wednesday, Wall Street, Washington, and the crypto world have clashing opinions.

Two governors appointed by Trump, Christopher Waller and Michelle Bowman, seem like potential dissenters in favor of a cut. The dissent within the Federal Reserve in support of a cut is a rare instance, last seen in 1993, as per WSJ.

Both Bowman and Waller previously favored stablecoins but were cautious on crypto. In 2023, Bowman said:

"Cryptocurrency activities can pose significant risks." But she made it clear that "as regulators, we should support innovation and recognize that the banking industry must evolve to meet consumer demand."

Join the discussion with CryptoWendyO on Roundtable here.

Bowman has expressed concern about whether the continued price swings and softness in the jobs market justify easing sooner rather than later.

But, most Fed officials—the Chair Powell included—are still more comfortable waiting. They, at a minimum, are convinced that inflation is still too high (around 2.7%) and that strong jobs data is insufficient to support cuts.

Crypto markets are trading cautiously ahead of the Federal Reserve's rate announcement. Bitcoin is currently trading around $117,848, down 0.5% from the previous week, while Ethereum is up more than 4%. Broader altcoins such as XRP, Solana, and Dogecoin are still in the negative, suggesting investor anxiety amid macroeconomic pressure.

Anthony Pompliano, a crypto investor and leader, shared Trump's sentiments on X today. "Cut interest rates and unleash economic prosperity of the American capitalism machine," he said.

The Federal Reserve should cut interest rates today.

— Anthony Pompliano ???? (@APompliano) July 30, 2025

Max Keiser, an early investor in Bitcoin and an outspoken backer of the crypto industry, said, "GDP surging due to inflation. This gives the Fed LESS room to lower rates. The bias for any rate move is HIGHER." He further shared a post which said, "If Trump wants a rate cut, he should show Real Final Sales, not GDP."

If Trump wants a rate cut, he should show Real Final Sales, not GDP https://t.co/bkAGsjED61 pic.twitter.com/CC57ftxaEz

— zerohedge (@zerohedge) July 30, 2025

According to the chart attached to the post, it shows weaker private sector demand—a reason that could prompt the Federal Reserve to watch when deciding whether to cut interest rates.

Join the discussion with Scott Melker on Roundtable here.

Macro analyst and long-time Bitcoin enthusiast Fred Krueger, however, warned against a Federal Reserve rate cut, citing rapid growth in the money supply as a significant risk for inflation.

China makes the US look like Austrian Economists.
We are now talking 10.66% annual growth in M2.
Again, the R2 is 98.9%.
On a blended basis, 7% CAGR in Money Printing is a good way to think of the world.
Nothing stops this train.
2/2 pic.twitter.com/8yqCcRWMUM

— Fred Krueger (@dotkrueger) July 29, 2025

He notes that U.S. M2 is increasing at an annualized rate of 6.46% and China's M2 is increasing at 10.66%; both rates he calls "like clockwork" as they are very closely correlated with inflation.

Furthermore, Krueger argues that with the average global liquidity growth rate currently at 7% a year, it is unreasonable to see 3% inflation. In essence, a rate cut now would only add to inflation.

Fed faces rare revolt not seen in over three decades first appeared on TheStreet on Jul 30, 2025

This story was originally reported by TheStreet on Jul 30, 2025, where it first appeared.