
Image Source: Getty Images |Photo by Michael M. Santiago
Standing in front of workers preparing to install two new flag poles outside the White House, President Donald Trump launched into a fiery and unscripted tirade against Federal Reserve Chairman Jerome Powell, calling him “a stupid person” and blaming him for economic missteps.
Trump began by addressing the workers and the flag pole installation but quickly shifted into an extended rant criticizing Powell’s handling of interest rates.
“We’re doing well as a country. If the Fed would ever lower rates, you know, we’d buy debt for a lot less,” Trump told the gathered crew.
From there, the president veered into personal attacks on Powell, questioning his intelligence and accusing him of being politically motivated.
“It’s a shame, this guy. I have a guy. Do you ever have a guy that’s not a smart person and you’re dealing with him and you have to deal?” Trump said. “He’s not a smart guy. He’s worried about inflation. I said, ‘That’s all right, if there’s inflation in six months or nine months, you lower the rates or you raise the rates.
You can do whatever you want.’” Trump dismissed concerns about inflation, boasting instead about what he sees as a financial success story.
“So let’s say there’s rampant inflation, which there’s none. You know what? There is a success. I got a call from Congress last night: ‘Sir, there’s a problem.’ I said, ‘What is it?’ ‘Money is pouring in.
We don’t know how to account for it.’ I said, ‘Check the tariffs.’ $88 billion came in from tariffs. No inflation.” Continuing his criticism, Trump accused Powell of inaction, suggesting his delays in cutting interest rates are costing Americans vast amounts of money.
“He probably won’t cut today. Europe had 10 cuts and we had none. And I guess he’s a political guy. I don’t know. He’s a political guy who’s not a smart person, but he’s costing the country a fortune,” Trump said. “So, what I’m going to do is, you know, he gets out in about nine months. He has to.
He gets fortunately terminated.” Trump concluded by suggesting he could do the job himself.
“I call him ‘Too Late Powell,’ because he’s always too late,” he said. “Maybe I should go to the Fed. Am I allowed to appoint myself? I don’t know. I’d do a much better job than these people.”
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