00:30No, I haven't. I haven't called him. I might call him. I haven't called him, but I believe he's making a mistake by not lowering interest rates. And I think as well as we're doing, we do much better. He's keeping rates too high. He historically has been late, except when it came to Biden. He was recommended by a certain person that I'm not particularly happy with.
00:58But he will hopefully do the right thing. The right thing is to lower interest rates. So we'll see what happens. I think we're sitting on something that's going to be very good. With all the tariff money starting to come in, our country is going to be doing really well. And hopefully he'll be doing. We don't have inflation.
01:16So to clarify, you have no intention of firing Jerome Powell because your economic advisor, Kevin Hassett.
01:21None whatsoever. Never did. The press runs away with things. Now, I have no intention of firing him. I would like to see him be a little more active in terms of his idea to lower interest rates. This is a perfect time to lower interest rates.
01:39If he doesn't, is it the end? No, it's not. But it would be good timing. It would be it which could have taken place earlier. But no, I have no intention to fire him.
01:49As you know, the cost of eggs has come down like 93, 94. The only thing that hasn't come down but hasn't gone up much are interest rates.
01:58And we think the Fed should lower the rate. We think that it's it's a perfect time to lower the rate and would like to see our chairman be early or on time as opposed to late.
02:10Late. Late. Late's not good.
02:12Beautiful wife, Lisa and their friends and family. Prices are coming down, not going up.
02:19Only the fake news says they're going up. The only thing that's even are interest rates.
02:24And if we had a Fed chairman that understood what he was doing, interest rates would be coming down, too.
02:30He should he should bring them down. Yeah, please.
02:32Be sure he knows what the hell he was doing.
02:33Oh, he'll leave. If I ask him to, he'll be out of there. But I don't think he's.
02:39I don't think he's. I don't think he. I don't think he's doing the job. He's too late.
02:43Always too late. A little slow. And I'm not happy with him.
02:48But I don't think he's. I don't think he's doing the job.
02:53I don't think he's. I don't think he's doing the job. He's too late. Always too late. A little slow. And I'm not happy with him.
03:12And I let him know it. And if I want him out, he'll be out of there real fast. Believe me.
03:20Go ahead, please.
03:23Already. And then we have South Korea coming in next week. And I believe India.
03:28Go ahead. Please.
03:29Do you regret nominating him? Jerome How?
03:33Look, in the first four years, we had the greatest economy in the history of our country.
03:38His stock market went up 88 points. I think he's terrible, but I can't complain because we had the most successful administration economically in the history of our country.
03:48I think we're going to do even better this time.
03:51The administration is, as I mentioned in my remarks, is implementing significant policy changes, and particularly trade now is the focus.
04:00And the effects of that are likely to move us away from our goals.
04:04So unemployment is likely to go up as the economy slows, in all likelihood, and inflation is likely to go up as tariffs find their way.
04:12And some part of those tariffs come to be paid by the public.
04:18So that's the strong likelihood.
04:20And, you know, my hope is that we'll get through this and get back.
04:23We're always going to be aiming for maximum employment and price stability. That's what we do.
04:27I do think we'll be moving away from those goals probably for the balance of this year.
04:34Sure. So let me just be clear at the start.
04:38I make it a practice not to respond to any elected officials' comments, so I don't want to be seen to be doing that.
04:45It's just not appropriate for me.
04:47So it's a good time to take a step back and let things clarify.
04:51That's why it's just too soon to say what the appropriate monetary policy response will be to these new policies.
04:59It is just too soon to say. We can't say with any confidence today.
05:03So that's what we're doing.
05:04We've taken a step back and we're watching to see what the policies turn out to be and the ways in which they will affect the economy.
05:11While there have been recent developments in some of these areas, especially trade policy, uncertainty around the changes and their effects on the economic outlook is high.
05:34As we parse the incoming information, we're focused on separating the signal from the noise as the outlook evolves.
05:43As we say in our statement, in considering the extent and timing of additional adjustments to the target range for the federal funds rate,
05:49the Committee will assess incoming data, the evolving outlook, and the balance of risks.
05:55We do not need to be in a hurry to adjust our policy stance, and we are well positioned to wait for greater clarity.
06:04We know that reducing policy restraint too fast or too much could hinder progress on inflation.
06:26At the same time, reducing policy restraint too slowly or too little could unduly weaken economic activity and employment.
06:34As President, there are few decisions more important than nominating leaders of integrity and good judgment to hold trusted positions in public office.
06:55And few of those trusted positions are more important than the Chairman of the Federal Reserve.
07:02Accordingly, it is my pleasure and my honor to announce my nomination of Jerome Powell to be the next Chairman of the Federal Reserve.
07:14Congratulations, Jim.
07:15Thank you, Mr. President.
07:17He has proven to be a consensus builder.
07:21Thank you.
07:22Thank you, Jim.
07:23Thank you, everybody.
07:32Thank you very much.
07:33Thanks.
07:34Thank you.
07:34Mr. President, do you think you're in hot water in the water?
07:39Is it too soon to discuss non-immigrant terrorism, as in Vegas?
07:44No, I'm not happy with Jay Powell.
07:54I don't think he's doing a good job at all.
07:56I don't think he's much of a chess player, but I've got him, so, you know, that's what I have.
