A striking 12-foot golden statue of former President Donald Trump, depicted holding a Bitcoin, has made its debut outside the U.S. Capitol. This installation coincides with the Federal Reserve’s pivotal announcement regarding interest rates. At 2 p.m. on Wednesday, the Fed revealed that it would reduce its key interest rate by a quarter-point, marking its first cut since December 2024, thereby bringing the short-term rate down to approximately 4.1% from 4.3%.
Last year, the central bank implemented three rate cuts amid concerns over slowing job growth and rising unemployment. Alongside the current adjustment, the Fed disclosed plans for two additional cuts later this year, though only one further reduction is projected for 2026. This outlook may fall short of Wall Street’s expectations, which had anticipated a total of five rate cuts by next year.
The imposing statue, accessible from 9 a.m. to 4 p.m. on 3rd Street, is a creation financed by a group of cryptocurrency investors. Organizers aim to spark a broader conversation around the evolution of digital currency, monetary policy, and the federal government’s role in financial markets. Hichem Zaghdoudi, a spokesperson for the investor collective, indicated that the installation serves as a commentary on the future of government-backed currency while emphasizing the interplay between contemporary politics and financial innovation.
Zaghdoudi stated, “As the Federal Reserve shapes economic policy, we hope this statue prompts reflection on cryptocurrency’s growing influence.” The artwork not only celebrates Trump’s vocal advocacy for cryptocurrency but is also anticipated to attract significant attention from passersby throughout the day.
