Trump Asked Point Blank If He's Planning To Fire Jerome Powell

Forbes Breaking News

In an Oval Office meeting with the Crown Prince of Bahrain, President Trump was asked if he plans to fire Fed Chair Jerome Powell.

Transcript

00:00President Jerome Powell, do you have plans, or if you're back, considering firing Jerome Powell?

00:07What's your justification, if you're thinking about this, to do this?

00:10He's always been too late. Hence his nickname, Too Late.

00:14He should have cut interest rates a long time ago.

00:17Europe has cut him 10 times in the short period of time, and we cut him none.

00:22The only time he cut him was just before the election to try and help Kamala or Biden,

00:28whoever the hell it was, because nobody really knew.

00:32Obviously, that didn't work, but he tried to cut him for the Democrats, Kamala.

00:37And how did that work out? You'll tell me. It didn't work out too well, did it?

00:42But he's, he's, I think he does a terrible job. He's costing us a lot of money, and we fight through it.

00:48It's almost, the country's become so successful that it doesn't have a big impact.

00:54But it does hurt people wanting to get a mortgage. People want to buy a house.

01:00He's a terrible, he's a terrible Fed chair. I was surprised he was appointed.

01:05I was surprised, frankly, that Biden put him in and extended him.

01:10But they did. So, no, we're not planning on doing anything. We're very concerned.

01:16He's doing a little renovation for $2.5 billion of the Fed, building a renovation,

01:24and they have a close to $900 million cost overrun. And it's a shame.

01:30But the biggest cost overrun is the cost overrun for interest rates,

01:34because we should be paying three points lower, and we would save a trillion dollars a year in interest

01:39if that were the case. And all it is, is the stroke of a pen.

01:42And that goes for his board, too, because his board is not doing the job,

01:46because they should try and rein this guy in. So he's doing a lousy job.

01:50But no, I'm not talking about that. We get, fortunately, we get to make a change in the

01:54next, what, eight months or so. And we'll pick somebody that's good, and we'll pick somebody.

02:00I just want a fair job. We want to see lower interest rates. Our country deserves it.

02:06We're making a lot of money. We're doing great as a country. We have no inflation.

02:10Record stock market, record business, record everything. Everything's a record now.

02:15We had the worst inflation in history under Biden, and now we have almost no inflation.

02:22We've done a great job, and we should have the interest rates cut.

02:26So you're saying today that Scott Bessinger, you're so happy with him at Treasury, that,

02:31you know, he's not your top option to replace Jerome Powell whenever that may be,

02:34whenever you decide what you want to do with him.

02:37Scott's doing a very good job. I'm very happy with Scott.

02:40Is Kevin Hassett done a tough year list?

02:42Kevin's somebody we'd consider. Kevin is fantastic, too.

02:46We have a lot of good people for that job. It's not a tough job, to be honest.

02:52Assuming you're smart, it's not a tough job.

02:54If you're a dummy, then I guess it's a tough job.

02:56But it might be one of the easiest jobs I've ever seen.

03:01And now on top of it, he's building a close to $3 billion little nest egg for himself.

03:07He's not doing the right job.

03:10We should be saving a trillion dollars a year on interest.

03:12You know when he talks about cost?

03:14We should be saving. Think of it, a trillion dollars a year.

03:16Add that with the tariffs and everything else.

03:18But he just doesn't want it. He's a knucklehead.

03:23But we'll see how that...

03:25We'll see how he's listening to the Supreme.

03:27That's a strange conversation.

03:29But we like to say it like it is.

03:33But we have a lot of people that want that job very badly.

03:37And I'm only interested in low-interest people, frankly.

03:42Because you don't need...

03:42I know...

03:43So they had the 71 different...

03:45So they had the 71 different...

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