White House economic council chair Phekan calls Fed rate hike a mistake

The significance here is institutional rather than monetary: a sitting White House economic adviser publicly labelling a Fed move a mistake sharpens the tension between fiscal authority and central-bank independence. That friction matters for anyone pricing rate-sensitive assets, including crypto and tokenized RWA markets, which trade heavily off the perceived direction of policy. The open question is whether this stays a one-off comment or becomes a recurring White House line — and whether the Fed, which sets policy independently, treats it as noise or as pressure worth acknowledging.