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Trump calls Fed Chair Jerome Powell a “numbskull” and demands a 2% rate cut
President Trump went straight for Jerome Powell’s neck on Thursday, calling the Federal Reserve chair a “numbskull” during remarks at the White House while demanding an immediate cut to interest rates.
He claimed the US could save $600 billion every single year if Powell dropped rates by just 2 percentage points, but added, “we can’t get this guy to do it.”
Speaking at a bill signing ceremony in the White House East Room, Trump expressed total frustration, saying, “We’re going to spend $600 billion a year, $600 billion because of one numbskull that sits here and says, ‘I don’t see enough reason to cut the rates now.’”
The attack came after new data from the Labor Department showed that producer prices in May rose more slowly than expected, easing earlier fears about an inflation spike. Trump pointed to that and said Powell had no reason to keep rates high.
“I’m OK if they raise [rates] when inflation’s up,” he added. “But it’s down. And I may have to force something.” He didn’t explain what “force” meant, but the language alone rattled the room.
White House doubles down on Powell criticism
The hit on Powell wasn’t isolated. It was part of a full-court press from inside Trump’s own administration. Within the last two days, two senior officials publicly attacked Powell’s refusal to cut interest rates.
Commerce Secretary Howard Lutnick, speaking Wednesday night on Fox News, said, “It’s unbelievable how much we would save if [Powell] did his job and he cut interest rates.” He backed Trump’s view and insisted the economy was “ready for it,” adding, “It’s easy. Inflation is low. Come on. He’s got to do his job soon.”
Also on Wednesday, Vice President JD Vance posted a blunt message online. “The refusal by the Fed to cut rates is monetary malpractice,” Vance wrote. The coordination was obvious: Trump, Lutnick, and Vance were all on the same page, targeting Powell’s monetary policy in real time and using public pressure to push for immediate action.
As for the markets, they didn’t move much after the comments. Traders have already priced in no rate cut at next week’s Fed meeting, and the odds of a July cut are still low. But September? That’s where things shifted. CME Group data showed chances of a cut in September jumped from 69% to 76% by Thursday.
Meanwhile, Trump continued trying to brand Powell with a new nickname—“Too Late”—which he’s been repeating in recent speeches to hammer the point that Powell’s decisions aren’t keeping pace with the economic signals coming in. And the nickname’s stuck around. Powell hasn’t responded publicly.
Trump says he won’t fire Powell, but leaves the door open
Despite all the aggression, Trump said clearly on Thursday that he would not remove Powell before his term ends in May 2026. “I’m not going to fire him,” he said, before adding, “I don’t know why it would be so bad.”
The message was conflicting: technically no, but emotionally yes. He hasn’t attempted to fire Powell since April, when talk of removing him led to market volatility that forced Trump to step back.
Powell, on his side, has said multiple times that the president cannot fire him, and that the law protects his role. In May, the Supreme Court suggested that governors of the Federal Reserve have more job security than most other federal agency heads. That ruling added another legal layer that would make any firing move by Trump even harder.
Still, the heat isn’t going down. Powell may be legally safe, but politically, he’s in the hot seat. Trump is turning every public appearance into a stage to hammer the Fed chair.
Whether it’s by name-calling, coordinated messaging, or hinting at undefined “force,” the campaign is very much alive. Powell may not be out of a job, but he’s clearly out of favor.
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The Journey of XRP: A Look at Its Price Evolution
XRP, the digital currency created by Ripple Labs, has been a significant player in the cryptocurrency market since its inception. Known for its unique consensus algorithm and its focus on facilitating cross-border payments, XRP has experienced a rollercoaster of price movements over the years. Let's delve into the factors that have influenced its price and where it stands today.

Early Days and Initial Surge
XRP was launched in 2012, and for the first few years, it remained relatively under the radar. Its price hovered around fractions of a cent, reflecting the nascent stage of the cryptocurrency market. However, as Ripple Labs began to forge partnerships with financial institutions and promote the use of XRP for international transactions, the currency started to gain traction.

The 2017 Bull Run
The year 2017 was a landmark period for cryptocurrencies, and XRP was no exception. Riding the wave of the broader market rally, XRP's price surged from around $0.006 in early 2017 to an all-time high of approximately $3.84 in January 2018. This meteoric rise was driven by increased adoption, speculative trading, and the overall euphoria surrounding digital assets.

Regulatory Challenges and Market Corrections
Following its peak, XRP faced significant regulatory scrutiny, particularly from the U.S. Securities and Exchange Commission (SEC). In December 2020, the SEC filed a lawsuit against Ripple Labs, alleging that XRP was an unregistered security. This legal battle caused a sharp decline in XRP's price, dropping it to around $0.17 by the end of 2020.

Despite these challenges, XRP demonstrated resilience. The cryptocurrency market as a whole experienced a resurgence in 2021, and XRP's price recovered, reaching highs of around $1.96 in April 2021. However, the ongoing legal uncertainties continued to cast a shadow over its long-term prospects.

Recent Developments and Current Price
As of January 2025, XRP's price has shown relative stability compared to its earlier volatility. The legal battle with the SEC remains unresolved, but Ripple Labs has continued to expand its network and partnerships globally. This has helped maintain investor confidence to some extent.

Currently, XRP is trading at approximately $0.75. While this is a far cry from its all-time high, it reflects a more mature and stabilized market position. The price is influenced by a combination of factors, including regulatory developments, market sentiment, technological advancements, and the broader economic environment.

Future Outlook
The future of XRP's price is contingent on several key factors:

Regulatory Clarity: A resolution to the SEC lawsuit could provide much-needed clarity and potentially boost investor confidence.
Adoption and Use Cases: Continued adoption by financial institutions and the development of new use cases for XRP could drive demand.
Market Trends: The overall health of the cryptocurrency market will inevitably impact XRP's price movements.
In conclusion, XRP's journey has been marked by significant highs and lows. While it faces ongoing challenges, its role in the evolving landscape of digital finance remains pivotal. Investors and enthusiasts alike will be watching closely to see how XRP navigates the future.

Disclaimer: This article is for informational purposes only and should not be considered financial advice. Cryptocurrency investments are
subject to market risks.

The Evolution and Current State of Bitcoin in 2025
Bitcoin, the pioneering cryptocurrency, has continued to evolve and make headlines since its inception in 2009. As we step into 2025, it's fascinating to observe how Bitcoin has shaped the financial landscape and what its current state looks like.

A Brief History
Bitcoin was created by an anonymous entity known as Satoshi Nakamoto. It introduced the concept of a decentralized digital currency, operating on a peer-to-peer network without the need for intermediaries like banks. This revolutionary idea was built on blockchain technology, a secure and transparent ledger system.

Adoption and Acceptance
Over the years, Bitcoin has seen varying degrees of acceptance. Initially, it was primarily used by tech enthusiasts and those interested in its potential for financial privacy. However, as its value surged, it caught the attention of mainstream investors and institutions.

By 2025, Bitcoin has become a widely accepted form of payment. Major corporations, including tech giants and retail chains, now accept Bitcoin for transactions. Additionally, several countries have integrated Bitcoin into their financial systems, recognizing it as a legitimate form of currency.

Market Performance
Bitcoin's market performance has been characterized by volatility. It has experienced significant highs and lows, often influenced by regulatory news, technological advancements, and macroeconomic factors. As of January 2025, Bitcoin's price remains robust, with a market capitalization that solidifies its position as the leading cryptocurrency.

Technological Developments
The Bitcoin network has undergone several upgrades to improve scalability and security. The Lightning Network, a second-layer solution, has enhanced transaction speeds and reduced fees, making Bitcoin more practical for everyday use. Furthermore, advancements in quantum computing have prompted the development of quantum-resistant cryptographic algorithms to safeguard Bitcoin's future.

Regulatory Landscape
Regulation has always been a critical factor in Bitcoin's journey. Governments worldwide have taken varied approaches, from outright bans to full acceptance. In 2025, a more harmonized regulatory framework is emerging, aimed at protecting consumers while fostering innovation. This balanced approach has contributed to Bitcoin's stability and growth.

Environmental Concerns
Bitcoin mining, the process of validating transactions and securing the network, has faced criticism for its environmental impact. The energy-intensive nature of mining has led to concerns about carbon emissions. In response, the industry has seen a shift towards sustainable practices, with miners increasingly using renewable energy sources.

Future Prospects
Looking ahead, Bitcoin's future appears promising yet uncertain. Its role as a store of value, akin to digital gold, is well-established. However, its potential as a global currency depends on continued technological advancements and regulatory clarity. Innovations such as decentralized finance (DeFi) and smart contracts could further expand Bitcoin's utility.

Conclusion
Bitcoin has come a long way since its inception, evolving from a niche digital currency to a significant player in the global financial system. As of 2025, it stands as a testament to the power of decentralized technology and its potential to reshape the world of finance. While challenges remain, the ongoing developments and growing acceptance suggest that Bitcoin's journey is far from over.

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