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Trump says he would love to fire Fed chair Powell

BY Reuters | ECONOMIC | 11/19/25 01:14 PM EST

(Please note language some readers may find offensive in first and fourth paragraphs)

WASHINGTON, Nov 19 (Reuters) - U.S. President Donald Trump on Wednesday doubled down on his criticism of Federal Reserve Chairman Jerome Powell for not lowering interest rates more quickly, saying: "I'll be honest, I'd love to fire his ass."

Trump, speaking at a Saudi Arabia-backed investment forum in Washington, urged his Treasury secretary, Scott Bessent, to accelerate the hunt for a successor for Powell.

"You've got to work on him, Scott. The only thing Scott's blowing it on is the Fed," Trump said about Bessent, who was in the audience for the event at the Kennedy Center in Washington.

"The rates are too high, Scott, and if you don't get it fixed fast, I'm going to fire your ass," Trump said, apparently in jest.

Bessent, which is leading the search for a new Fed chair, on Tuesday told Fox News that Trump is slated to meet the three finalists for the job after Thanksgiving, with a new pick likely to be announced before Christmas.

Trump has repeatedly praised Bessent's work, and has said the Treasury secretary would be his pick for the Fed job, although Bessent has told him he would rather remain at the helm of Treasury and the Internal Revenue Service.

(Reporting by Andrea Shalal; editing by Rami Ayyub)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

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