Trump issues "final ultimatum" to Bessent: Will consider replacing Treasury Secretary if rate cuts fail
ChainCatcher News, At the Saudi-American Investment Forum, Trump spoke with Treasury Secretary Bessent about Federal Reserve Chairman Powell, saying with a mocking expression: "I mean, Bessent, you really need to keep this guy in check. Powell definitely has mental issues. No, there's definitely something wrong with him. Honestly, I really want to fire him. This guy is extremely incompetent, and he should be prosecuted for spending 400 millions dollars to build a small building. The interest rates are too high, Bessent. If you don't solve this problem, I'll fire you, understand?"
Previously, U.S. Treasury Secretary Bessent advised Trump to let Powell remain in office until the end of his term, while Commerce Secretary Howard Lutnick "leans more toward firing" Powell. Federal Reserve Chairman Powell's term will end on May 15, 2026.
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