US EditionTreasury Secretary Bessent Receives Public Warning From Trump Over Policy Issues
Trump threatened to fire Treasury Secretary Scott Bessent if he fails to pressure Federal Reserve Chair Jerome Powell to cut interest rates amid rising inflation concerns.
- On Wednesday at the U.S.-Saudi Investment Forum, President Donald Trump urged Treasury Secretary Scott Bessent to 'work on' Federal Reserve Chair Jerome Powell to lower interest rates, linking failure to job security.
- Trump has long criticized Jerome Powell for not cutting rates fast enough, and minutes showed Fed officials conflicted before the Federal Open Market Committee's quarter point cut to a 3.75%-4% range.
- On Tuesday at the White House, President Donald Trump said people were holding him back from firing Jerome Powell and recited, `I can't tell you Scott: 'Sir, don't fire him. He's got three months to go, don't fire him,'` from Scott Bessent.
- Experts cautioned that eroding the Fed's independence could trigger stagflation and warned inappropriate rate cuts might raise inflation, while observers said it was unclear how serious Trump’s firing threats were and CNBC sought White House comment.
- The Federal Open Market Committee will meet again in December, and the administration is vetting multiple candidates to succeed Powell with Secretary of the Treasury Scott Bessent assisting the search.
29 Articles
29 Articles
Trump slams Fed Chair Jerome Powell, says he has ‘mental problems’ and should be fired
President Donald Trump on Wednesday heavily criticized Jerome Powell, the chairman of the Federal Reserve, saying he has "mental problems" and that he would love to "fire his ass."Trump’s remarks elicited laughter while he spoke at the U.S.-Saudi Investment Forum at the Kennedy Center in Washington, D.C. Trump noted that Treasury Secretary Scott Bessent was the one holding him back."[Powell’s] got some real mental problems. There’s something wro…
Trump warns cabinet member: ‘I’m going to fire your ass’
President Donald Trump publicly warned a member of his cabinet that he would fire him if he doesn’t soon fix one of Trump’s biggest concerns. While speaking during the U.S.-Saudi Investment Forum at the Kennedy Center in Washington, D.C. Wednesday, Trump threatened Treasury Secretary Scott Bessent.
Trump says Powell has ‘mental problems,’ urges Bessent to ‘work on this guy:’ ‘I’d love to fire his ass’
President Trump said Wednesday that Fed Chair Jerome Powell has “mental problems” and he would love to “fire his ass,” but Treasury Secretary Scott Bessent is holding him back.
Trump Quips He’ll Fire Bessent Over Interest Rates
“President Donald Trump suggested he would fire Scott Bessent if the Treasury secretary doesn’t help secure lower interest rates, expressing ongoing frustration with the Federal Reserve’s reluctance to cut rates more quickly,” Bloomberg reports. Said Trump: “The only thing Scott’s blowing it on is the Fed. Rates are too high, Scott, and if you don’t get it fixed fast, I’m going to fire your ass. Okay?”
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