Speaking to reporters from the White House on Thursday, President Donald Trump ripped into Jerome Powell, who spearheads the Federal Reserve.
In Trump’s remarks, he explained that he may have to “force something” on the Fed, presumably to get Powell out.
“We’re going to spend $600 billion a year because of one numbskull that sits here, ‘I don’t see enough reason to cut the rates now.’… I explained to him, ‘Look, if inflation went up, cut your rates now, there’s no inflation,’” Trump said, referring to Powell, adding that gasoline and prices are down.
“Let’s say there’s inflation a year from now. Raise your rates. I don’t mind. Raise your rates…You don’t have to keep them up here…I may have to force something…Unlike Biden, I stay awake at night thinking about how to save our country,” Trump added.
Trump complains about Jerome Powell not lowering interest rates:
— The Bulwark (@BulwarkOnline) June 12, 2025
“We’re going to spend $600 billion a year because of one numbskull that sits here, ‘I don’t see enough reason to cut the rates now.’… Cut your rates now, there’s no inflation.” pic.twitter.com/A1PR0CWFlH
In April, Townhall covered how Trump wrote on Truth Social that Powell is “always too late and wrong.”
“Powell’s termination cannot come fast enough!” he said at the time.
BREAKING: Trump has said: "Jerome Powell is always too late and wrong. His termination “cannot come fast enough.” The Fed should’ve cut interest rates long ago." pic.twitter.com/Mc7BOHFvWm
— unusual_whales (@unusual_whales) April 17, 2025
Shortly after, Trump told journalists in the Oval Office that “If I ask him to, he’ll be out of there,” referring to Powell.
“If I want him out, he’ll be out of there real fast, believe me,” Trump asserted. Powell’s tenure ends in 2026.
Reporter: "You said the termination of Jerome Powell cannot come fast enough. He says he won't leave even if you ask him to."@POTUS: "Oh he'll leave. If I ask him to, he'll be out of there. I don't think he's doing the job. He's always too late, a little slow." pic.twitter.com/UdG3zhBukX
— Rapid Response 47 (@RapidResponse47) April 17, 2025