'This should be concerning': Experts alarmed at Trump's profane rant against Fed chair
President Donald Trump unleashed another attack on Federal Reserve Chairman Jerome Powell, calling for the firing of the independent agency chief who has just months left in his term. Experts this week suggested eroding the Fed’s independence could trigger stagflation.
In a speech at the U.S.—Saudi Investment Forum on Wednesday, President Trump urged his Secretary of the Treasury, Scott Bessent, to “work on” getting Powell to lower interest rates. Experts warn that lowering interest rates inappropriately could lead to even higher inflation.
“He’s got some real mental problems,” Trump told the audience at the Kennedy Center, referring to Powell. “He’s — something wrong with him.”
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“I’d be honest, I’d love to fire his a –. He should be fired. Guy’s grossly incompetent,” Trump charged. “And he should be sued for spending $4 billion to build a little building. I’m building a ballroom that’s gonna cost a tiny fraction of that, and it’s bigger than the whole thing put together.”
Trump was referring to the renovations at the Federal Reserve. The Fed does not rely on tax dollars for its operations.
“You gotta work at him, Scott,” Trump continued from the podium. “The only thing Scott’s blowing it on is the Fed. Because the Fed, the rates are too high, Scott. And if you don’t get it fixed fast, I’m gonna fire your a –, okay?”
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Critics weighed in on Trump’s attack.
“If you are a single-issue ‘affordability’ voter, this should be concerning,” remarked Catherine Rampell, the economics editor for The Bulwark.
Andrew Ackerman, who covers the Fed for The Washington Post, appeared to mock the president: “Trump: I want to fire Jay Powell but Scott Bessent won’t let me.”
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