Donald Trump took aim at Federal Reserve Chair Jerome Powell on Tuesday, sharply criticizing what he described as excessive spending and a failure to address core economic issues. The president, who has increasingly signaled his dissatisfaction with Powell and has called for his resignation, suggested that Powell’s actions may warrant dismissal.
“The one thing I wouldn’t have guessed is he would be spending two and a half million dollars to build a little extension onto the Fed,” Trump said.
When asked whether that constituted a fireable offense, Trump didn’t hold back:
“I think it sort of is, because if you look at his testimony… he’s not talking about the problem. It’s a big problem.”
Trump’s comments come amid renewed speculation over the future of Fed leadership and whether Powell is preparing to step down. One potential successor mentioned in media circles is Treasury Secretary Scott Bessent. Trump, however, appeared to downplay Bessent’s candidacy — though only because he approves of his current performance.
“Well he’s an option. And he’s very good. Well, he’s not (top choice), because I like the job he’s doing. That’s why he’s not. … I do like the job he’s done. So in that sense, probably not that much of an option,” Trump said.
“Scott’s been great. He did a great job today. He’s a very soothing force. You know, he’s soothing.”
Asked whether he was frustrated that crypto legislation stalled in the House earlier in the day, Trump appeared unbothered.
“No. The interesting thing is the 12 votes were votes where they wanted it to be stronger in terms of crypto people. … those negative votes were because they wanted it to be, the safeguards, they wanted it to be stronger for people with crypto.”
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