Trump Urges Fed to Slash Rates to 1%, Citing Global Comparisons

Former President Donald TRUMP has escalated his pressure campaign on the Federal Reserve, demanding an aggressive cut to benchmark interest rates—down to 1% from the current 4.25%-4.5% range. A handwritten note to Chair Jerome Powell, shared via the White House Rapid Response team, juxtaposed U.S. rates against those of Switzerland, Japan, and other nations with sub-1.75% benchmarks. "Delayed action is damaging the economy," Trump asserted, dismissing inflation concerns as outdated.

The MOVE signals a potential pivot in monetary policy rhetoric ahead of the 2024 election cycle. While the note didn't explicitly mention cryptocurrencies, such drastic rate cuts could fuel risk appetite across asset classes—including digital assets. Traders on platforms like Binance and Coinbase often interpret dovish Fed positioning as bullish for BTC, ETH, and altcoins.