'He's Terrible': Trump Blasts Fed Chair Powell, Accuses Him Of Having 'Trump Derangement Syndrome'

Forbes Breaking News

During a White House press briefing, President Donald Trump tore into Federal Reserve Chair Jerome Powell.

Transcript

00:00Go ahead. Did you finish it up?

00:01Who are you considering for the Federal Reserve, then?

00:03And are you speeding up that process, I see, Secretary?

00:06Oh, he's terrible. He's terrible.

00:08I mean, I have a list of things. We're like 38 on the list.

00:11We pay, you know, Cameroon and different places are paying the same as us.

00:17Because, you know, you have somebody sets a rate at 4% or 4.5%.

00:21It's hard to go out and say we should be paying 1%

00:24when you have your so-called experts doing that.

00:27And the sad part is, you know, as per the question that you asked about tariffs,

00:32we've had the tariffs and we have less inflation than we had before.

00:37What we have is a hell of a lot more money, a hell of a lot more income,

00:41and we shouldn't be paying a rate like that.

00:43In other words, when we pay a rate, I'll tell you,

00:46each point is the equivalent of $300 billion.

00:50So if we had it down three points, because I think we should be at one,

00:53you have Switzerland is at 0.25, in other words, 25% of 1%.

01:00And they're the number one right now.

01:03But we should be the number one.

01:05And soon you're going to have, I believe, I think,

01:07you're going to have where the people will pay, you know, will pay,

01:11like we had a few years ago, where you put up money, you loan money.

01:16And, I mean, you actually, instead of paying, you get paid.

01:19I love that.

01:21I don't know if it's any good, but I love it,

01:23where you put up money and you get paid.

01:26But we should be in a category.

01:27So we should be at the top of the list, not toward the bottom of the list.

01:30But we have a man who's not a smart man,

01:33and he probably has Trump derangement syndrome.

01:36And he's just not a smart person.

01:38What he's doing, though, he's hurting us for years to come.

01:41Because if we borrow money at two points higher than we should be paying,

01:45that's $600 billion.

01:49Wouldn't you say those numbers are about right, Scott?

01:51So it's two points would be about 600, actually more than that,

01:54but about 600 billion dollars.

01:56All because a guy doesn't want to lower the rates.

01:58He's doing the service, a very disservice.

02:00And then he goes up, talks about,

02:01I'd like to see costs come down.

02:03You know, he gets up and he does his little thing for five minutes,

02:05and he goes out and he goes back to the beach.

02:08He goes, I'd like to see costs come down.

02:10Well, he could lower the interest costs by $900 billion a year.

02:15All he has to do is lower rates.

02:16And everybody's saying,

02:17I was watching some of the business shows today,

02:20and they're saying, you know, Trump's right.

02:21He should really be cutting.

02:23The country's doing well.

02:25We have no inflation.

02:26Now, despite him, we're doing great.

02:29But if we got the rates down, we would be a rocket ship.

02:32So I think that'll be it.

02:33And I just want to thank everybody.

02:36This is a really big day.

02:37We've had a big week.

02:40You know, we've had a big week.

02:41We've had a lot of victories this week.

02:43NATO was a tremendous victory.

02:46The war was a tremendous.

02:47Look, we were talking about this for 30 years,

02:50about Iran being nuclear.

02:53And all I said is, it will not be nuclear,

02:55and it's not going to be nuclear.

02:56And, you know, I want to give credit to a lot of people,

03:01and most importantly to our great military.

03:03Boy, they put out that fire.

03:05Once that happened, once those bombs got dropped,

03:07that war was over.

03:09That war was over.

03:10But I just want to compliment them.

03:11Incredible.

03:12The general and all of his generals.

03:15Pete Hegseth was great.

03:17They were, well, and now I want to compliment Pam.

03:21A lot of genius went into this.

03:22You know, people, if you don't say it exactly right,

03:25if the Supreme Court doesn't get it

03:27because it's incorrectly spoken about,

03:30and that happens.

03:31A lot of cases are lost because they don't,

03:34they don't say the right words.

03:35But I want to correct.

03:36She's going to go down as a great attorney general.

03:38I may change my mind about that.

03:40I don't know.

03:40Maybe someday I'll set a call and say,

03:42I was only kidding.

03:43She's going to go down as a great attorney general.

03:45This was a tremendous win.

03:47And we've had tremendous wins,

03:48but this was a tremendous win today.

03:50So I just want to congratulate you and Todd

03:52and your whole staff.

03:54Very brilliant people.

03:55And we can't forget John Sauer.

03:57That's right.

03:57Who is with, there's a medical emergency

04:00within his family, so he's taking care of that.

04:03And we said absolutely.

04:04So I just want to thank everybody very much.

04:06This is Jeff Bezos.

04:09This is Jeff Bezos.

04:10This is Jeff Bezos.

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