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This is the psalm of Jehovah's King. It is impossible to fix the event for which it was written and to which it first referred. The wider application is perfectly patent. To whatsoever king the words first applied, the singer was looking to the ideal King, and his song has found fulfilment in Christ. It is very interesting to notice how this psalm is interwoven with the thinking of the New Testament. To study it carefully, we must, first of all, discover the speakers in each case.
The psalmist opens with a description of the nations in opposition to Jehovah and His King. This is given in the form of a question why they are in such attitude. He then proceeds to declare the Lord's contempt for them, and in verse Psa 2:6 Jehovah is the Speaker, announcing that, notwithstanding all their opposition, He has appointed His King. The next section ( Psa 2:7-9 ) gives us the words of the anointed King, who declares the decree of His Kingship. The Son of Jehovah is to receive dominion from His Father and exercise it to subjugate all these opposing forces. The order of procedure is indicated, "inheritance," "possession," "administration." The psalm ends with an appeal to the kings and judges to show their wisdom by submitting themselves to Jehovah's King.
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Morgan, G. Campbell. "Commentary on Psalms 2". "Morgan's Exposition on the Bible". https://www.studylight.org/
the Third Week after Epiphany