Nayib Bukele, the outspoken president of El Salvador, who broke new ground by accepting Bitcoin as a legal currency, targeted Fed chairman Jerome Powell.
While the issue of rising inflation in the USA is being discussed these days, Bukele said in his post on his Twitter account that the FED’s printing of money is the biggest culprit.
Bukele said that the efforts of the FED to intervene in the problem of high inflation by printing too much money had the opposite effect and argued that the FED should stop printing money immediately.
Can you guys just stop printing more money?
You’re just going to make things worse.
really. It’s a no brainer. https://t.co/reVH1irzOt
— Nayib Bukele 🇸🇻 (@nayibbukele) November 30, 2021
Powell promised at a press conference that he would use any means necessary to fight inflation, saying that the inflation problem in the USA “may be higher and more persistent than we expected”.
Bitcoin and cryptocurrencies, which are seen as a means of protection against the dollar and rising inflation, attract great attention by individual and institutional investors.
Despite all the criticism, El Salvador, who does not return from his decision, continues to buy Bitcoin by taking every drop in Bitcoin as an opportunity.
*Not investment advice.