Trump Sends Fed Chair a Handwritten Message Urging Immediate Rate Cuts
U.S. President Donald Trump has intensified his campaign to lower interest rates, this time sending a handwritten note to Federal Reserve Chair Jerome Powell in an unusual move aimed at pressuring the central bank to act swiftly.
The note, written directly onto a chart comparing global central bank rates, highlighted countries with far lower benchmarks — including Switzerland, Japan, and Denmark — and demanded that U.S. rates be reduced to around 1%. Trump criticized Powell for being “too late” and blamed him for what he called costly delays in policy moves, insisting inflation is no longer a concern.
The U.S. currently holds interest rates between 4.25% and 4.5%. Trump’s note comes on the heels of his earlier public call for Powell’s resignation if he refuses to cut rates, and he has now openly stated he is considering four potential replacements. Powell’s term ends in May 2026, but Trump has hinted he may make a decision on succession before year-end.
Meanwhile, market speculation is heating up. Traders are increasingly betting that the Federal Open Market Committee (FOMC) may begin easing monetary policy as soon as its July meeting. According to CME FedWatch data, the probability of a 25-basis-point cut now stands at over 21%, up from nearly zero just weeks ago.
Though Powell has signaled a cautious stance, other Fed officials like Governor Christopher Waller have recently acknowledged that a rate cut could be on the table by next month. Trump’s aggressive stance is now casting a growing shadow over the Fed’s independence as the central bank prepares for a politically charged second half of 2025.
Kosta Gushterov
Reporter at Coindoo
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
