Trump Rips Jerome Powell, And Says He Is Narrowing Down His Pick To Be Next Fed Chair

Forbes Breaking News

During a press briefing on Wednesday, President Trump answered questions about Federal Reserve Chair Jerome Powell.

Transcript

00:00Hello to your husband, okay? Thank you. Go ahead.

00:07Thank you. Thank you, Mr. President. You were criticizing...

00:11Where are you from? Bloomberg News.

00:13Oh, Bloomberg. That's wonderful.

00:15You were criticizing the Federal Reserve Chair before coming to this summit.

00:19Yeah, I think he's terrible.

00:20I was wondering if you've begun interviewing different candidates for the Fed pick.

00:25Yeah, I know within three or four people who are all going to pick.

00:30I mean, he goes out pretty soon, fortunately, because I think he's terrible.

00:34We have no inflation. We have a tremendous economy.

00:37Hundreds of billions of dollars of tariff money is pouring in.

00:41Factories are being built because they don't want to pay the tariffs,

00:43so they're building them all over the country.

00:45I think we're close to $15 trillion.

00:48I told you $5.1 trillion from the Middle East alone, but of investment money coming in.

00:53There's never been anything like that in the history of our country.

00:56But we have no inflation.

00:58And we have borrowing, because Biden, stupidly, they did short-term debt.

01:03So we have borrowing coming up.

01:05And, you know, we'll go 10 years, maybe longer, maybe shorter,

01:08but we'll go a long period of time when we do the debt.

01:10And because of him, because of this guy, we will have to pay for years.

01:17We'll be paying for him.

01:18And I said to him, listen, there's no inflation.

01:22He says, but maybe there'll be some.

01:24That's true.

01:24I said, if there is some, what you do is raise the rate.

01:27I'm okay with that.

01:28You raise the rate in two years from now or in a year from now.

01:31But because the rate's high, we have to pay more for debt.

01:34It's pretty equal.

01:35In other words, if it's 4%, it's 4%.

01:38If you drop it a point, you'll pay 3%.

01:40So it's fairly equal, not necessarily, but fairly equal.

01:42So we're going to end up paying maybe two points or three points more.

01:47Three points would be about $900 billion a year because of this very average mentally person.

01:55He's an average mentally person.

01:57I'd say low in terms of what he does.

02:00Low.

02:01Low IQ for what he does.

02:04Okay?

02:04Wait, so instead of paying $900 billion, we don't want to pay $900 just because he doesn't want to lower the rate.

02:16I said, if there's inflation in two years or three years or one year from now, you raise the rate.

02:22You take care of the inflation, among other things.

02:26But he's probably a very political guy, I guess.

02:30I don't know.

02:30I think he's a very stupid person, actually.

02:32All right, one more.

02:33Let's go.

02:33How about you?

02:34Go ahead.

02:37She looks so happy and everything.

02:39That's why I picked her.

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