Trump Urges Powell to Slash Rates, Says 2% Rate Cut Could Save U.S. $600 Billion Annually
President Donald Trump escalated his criticism of Federal Reserve Chair Jerome Powell on Thursday, labeling him a “numbskull” and pressing him to deliver aggressive interest rate cuts.
Speaking from the White House, Trump argued that slashing rates by two percentage points would lead to massive federal savings—claiming it could reduce annual costs by $600 billion. But, he said, Powell has refused to act.
The remarks signal renewed political pressure on the central bank, as Trump intensifies calls for looser monetary policy amid concerns about debt servicing costs and the broader economic outlook.
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.
