President Trump on Wednesday slammed worthless Federal Reserve Chairman “Too Late” Jerome Powell over his continued refusal to lower interest rates, calling his decisions “political” and calling him “a stupid person.”
“So, we have a stupid person, frankly, at the Fed. He probably won’t cut today,” Trump told reporters. “Europe had 10 cuts, and we had none. And I guess he’s a political guy. And I guess he’s a political guy. I don’t know, he’s a political guy who’s not a smart person, but he’s costing the country a fortune.”
As The Gateway Pundit reported, Powell refused to cut interest rates last month, telling reporters the “economy is doing fine,” but “the right thing to do is to await further clarity.”
FED Chairman Jerome Powell Screws Trump and America Once Again – Refuses to Drop Rates Despite Amazing Economic News – TRUMP RESPONDS
The Fed will announce a decision on whether or not to cut rates again today.
Still, ahead of the decision, Trump went on a five-minute rant about how awful Powell is and how much money the United States is losing on debt interest payments.
The President also suggested that he should appoint himself Fed Chair when Powell’s term expires.
“We’d save six, seven, $800 billion. I think we’re 38th now in interest, and we should be number one. We should be the lowest,” Trump noted. “We’re paying more interest than a lot of European nations that can’t carry our suitcase.”
WATCH:
Trump: We’re doing well as a country, and if the Fed would ever lower rates, you know, we’d buy debt for a lot less. It’s a shame this guy. I have a guy. Did you ever have a guy that’s not a smart person, and you’re dealing with him? He’s not a smart guy. He’s worried about inflation. I said, That’s right. If there’s inflation in six months or nine months, you lower the rates or you raise the rates. You can do whatever you want, Brian, right?
So, let’s say there’s rampant inflation, which there’s none. You know what there is? There’s success. I got a call from Congress last night: Sir, there’s a problem. I said, What is it? Money is pouring in. We don’t know how to account for it. I said, check the tariffs. $88 billion came in from tariffs, no inflation, and it’s going to get even more so. I know what I’m doing. So, we have a stupid person, frankly, at the Fed. He probably won’t cut today. Europe had 10 cuts, and we had none. And I guess he’s a political guy. I don’t know, he’s a political guy who’s not a smart person, but he’s costing the country a fortune. So, what I’m going to do is, you know, he gets out in about nine months, he gets, fortunately, terminated. I would have never reappointed him. Biden reappointed him. I don’t know why that is, but I guess maybe he was a Democrat. You know, he got great advice from him.
But he’s done a poor job. So, we have no inflation, we have only success, and I’d like to see interest rates get down. Now, Biden did a lot of very short term debt, so we have short term debt coming due, and because of this guy’s rates, you know, if he’d lowered a point, I’d pay about a point less, then if he’d lower it two points, I’d pay about two points less. And that’s for 10 years, 12 years, 15 years, five years; It’s hundreds of billions, it’s even trillions of dollars, that we’re going to lose because of this “Too Late.” I call him Too Late Powell because he’s always too late. I mean, if you look at him, every time I did this, I was right, 100%. He was wrong. Maybe I should go to the Fed. Am I allowed to appoint myself Doug? I don’t know. Am I allowed to appoint myself at the Fed? I do a much better job than these people. So, anyway, we should be two points lower. It’d be nice to be two and a half points lower. We’d be saving $800 billion, 700 billion— That’s a lot of money —Think of it, for nothing. For absolutely nothing.
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