&imwidth=800&imheight=600&format=webp&quality=medium "'I wanna get him out, Scott!': Trump publicly jokes about firing Scott Bessent and Jerome Powell")
US President Donald Trump publicly threatened to fire Treasury Secretary Scott Bessent, while Bessent was sitting right in front of him, as the whole room burst into laughter. Trump had been pushing for a rate cut for months now. “Interest rates are down despite the Fed. I mean, Scott, you gotta work on this guy. He’s got some real mental problems. He has something wrong with him,” said Trump. Trump also attacked Federal Reserve Chair Jerome Powell for months over the interest rate policy.
“I’ll be honest, I’d love to fire his ass. He should be fired. Guy’s grossly incompetent. And he should be sued for spending $4 billion to build a little building. I’m building a ballroom that’s gonna cost a tiny fraction of that," said Trump, referring to Jerome Powell, at the Kennedy Centre on November 19, while addressing the US-Saudi investment forum.
US economy outlook
Trump had been boasting about the US economy, claiming that it's the 'hottest and the best' at the same time, but he is undermining his own staff and pressing for a rate cut. California Governor Gavin Newsom's office posted, “Translation: the economy isn’t bad enough, let’s speedrun a recession!”
Fed officials claim that their decisions are guided by economic figures, with dual goals of stable prices and full employment. However, the feds have delivered two rate cuts in two consecutive months in September and October, bringing the benchmark to its lowest in three years. Inflation remains above the 2 per cent target, and tariffs are expected to push it further higher.
