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 has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
