President Donald Trump has intensified his criticism of Federal Reserve Chair Jerome Powell, calling him “stupid” and vowing to replace him. Trump slams Powell over interest rates, arguing that high borrowing costs hurt U.S. debt refinancing efforts. With $9 trillion in debt due soon, Trump insists a leadership change is necessary.
“Sunday Morning Futures,” Trump expressed frustration with Powell’s policies. He claimed the U.S. must refinance its massive debt at lower rates. “We have a stupid person at the Fed,” Trump said, emphasizing his desire for drastic rate cuts.
Trump suggested Switzerland’s near-zero rates as a model. He believes the Fed should drop rates to 1-2% to ease refinancing pressure. Additionally, Trump slams Powell over interest rates, blaming him for economic inefficiency. The former president insists any replacement would outperform Powell.
With Powell’s term ending in May 2026, Trump has already hinted at possible successors. Treasury Secretary Scott Bessent and former Fed official Kevin Warsh are reportedly top contenders. Trump praised Warsh as “very talented” but remained noncommittal.
When pressed about his selection process, Trump dismissed Powell outright. “Anybody but Powell,” he declared. He also criticized the Fed chair’s reluctance to cut rates quickly. Meanwhile, Trump slams Powell over interest rates, accusing him of harming the economy.
Trump’s attacks come as Powell defends current monetary policy. The Fed chair recently testified before Congress, citing economic stability. However, Trump insists high rates will force the U.S. to overpay on debt for years.
Trade tensions further complicate the Fed’s decisions. Trump’s tariffs could increase consumer prices, yet Powell admits uncertainty about their full impact. Despite this, Trump demands immediate action, calling Powell’s leadership “incompetent.”
As the 2024 election approaches, Trump’s Fed criticism grows louder. Trump slams Powell over interest rates, framing the issue as crucial for economic recovery. With debt refinancing looming, his push for a new Fed chair could reshape monetary policy.
Whether Powell stays or goes, Trump’s aggressive stance ensures this debate will dominate financial discussions. For now, the president remains adamant any replacement would better serve America’s economic interests.
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