President Donald Trump just dropped a verbal bombshell on Federal Reserve Chairman Jerome Powell, and it’s the kind of blunt talk that’s got Washington buzzing.
Breitbart reported that at the U.S.-Saudi Arabia Investment Forum in Washington on Wednesday, Trump unleashed a scathing critique of Powell, hinting at a desire to see him ousted while slamming the Fed’s handling of interest rates and a massively over-budget construction project.
Trump’s frustration with Powell isn’t new—he’s been vocal for months about the Fed’s slow pace on cutting interest rates, even nicknaming the chairman “Too Late” earlier this year.
During his remarks at the forum, Trump didn’t hold back, though he stopped short of naming Powell directly, instead tasking Treasury Secretary Scott Bessent to “work on” the Fed chief.
“Mortgage rates are down despite the Fed. I mean, Scott, you got to work on this guy,” Trump said, before adding a jab about Powell’s mental state that raised eyebrows.
Those comments alone would’ve stirred the pot, but Trump took it a step further with a direct shot at Powell’s job security, making it clear he’s not just annoyed—he’s ready for a change at the top.
“I’ll be honest, I’d love to fire his ass,” Trump declared, not mincing words about his opinion of Powell’s performance.
He didn’t stop there, calling the Fed chair incompetent and suggesting he’s failed to deliver on key economic fronts. It’s the kind of tough talk that resonates with folks tired of bureaucratic stumbles, though it raises questions about Fed independence.
Trump’s beef with Powell also ties into the Fed’s recent moves on interest rates, which saw cuts of a quarter percent in both September and October after months of public pressure from the president.
Beyond policy, Trump zeroed in on a specific grievance: a Fed construction project that’s ballooned way past its original budget.
He claimed the project, initially pegged at $1.9 billion in 2021, has now soared to $4 billion, a figure he cited during his Wednesday remarks after noting a $3.1 billion estimate in July. For context, Trump bragged about building a ballroom for a fraction of that cost, hinting at gross mismanagement at the Fed.
While some might see this as a side issue, it’s a tangible example for Trump’s base of why government inefficiency needs a hard reset—especially when taxpayers foot the bill.
Trump’s critique of the Fed also intersects with broader economic debates, including the impact of tariffs, which a historical study from the San Francisco Federal Reserve Bank suggests could lower inflation by about two percentage points while raising unemployment by one point.
The study, highlighted by Breitbart News Economics Editor John Carney, challenges the Fed’s 2025 assumptions about tariffs acting as a demand booster, instead likening their effect to a demand drop. This data point adds fuel to Trump’s argument that Powell’s team might be misreading the economic playbook.
For many conservatives, this clash isn’t just personal—it’s about whether the Fed is equipped to handle America’s economic future without bowing to outdated or progressive-leaning assumptions.
While Powell’s defenders might argue he’s navigating a tough landscape, Trump’s pointed frustration at the forum speaks to a deeper distrust of entrenched elites, a sentiment shared by many who want accountability over excuses.