Trump says Fed chair termination can't come 'fast enough'
The president expressed his frustration with the fed chair as the agency warns of the impact the president's tariffs could have on the economy.
'If I want him out, he'll be out of there real fast believe me,' said Trump.
President Trump says the fed has not cut interest rates fast enough.
'Oh, he'll leave if I ask him to. He'll be out. I don't think he's doing the job, he's too late, always too late. Really slow and I'm not happy with him,' said Trump.
This comes after Powell signaled the fed would leave interest rates unchanged, while weighing the effects immigration, taxation and tariffs could have on the economy.
'Tariffs are highly likely to generate at least a temporary rise in inflation,' said Powell.
Powell warned that a rise in inflation could make it harder for the fed to cut rates in the immediate future.
'For the time being, we're well positioned to wait for greater clarity before considering and changes to our policy stance,' said Powell.
Despite this warning the president claims rate cuts is the way forward.
'I would say the Fed really owes it to the American people to cut interest rates,' said Trump.
The president says Powell isn't doing his job properly.
'The only thing that's gone up is interest rates because we have a Federal Reserve chairman that's playing politics,' said Trump.
The Federal Reserve is an independent agency. A legal case bound for the Supreme Court could decide whether presidents have the power to fire leaders of independent agencies.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Tennessee law says gubernatorial candidates must have lived in the state for seven years prior to the election. Hegseth moved to the state around three years ago; public records show that Hegseth's name is linked to a suburban Nashville address last sold in the middle of 2022. Tennessee Republican Party bylaws also have a series of requirements for Republican primary candidates, including having voted in three of the last four most recent statewide Republican primary elections in which the candidate is eligible to vote. There have been statewide Republican primaries in Tennessee in 2022 and 2024. Those bylaws have blocked other candidates from seeking office in the past, including in 2022, when the state GOP removed Trump-backed Morgan Ortagus, a former State Department spokeswoman, from the congressional primary ballot after she had recently moved to the state. Hegseth would likely face challenges from within his own party if he decided to run for governor. Republican Rep. John Rose is running and has loaned himself $5 million to bolster his campaign. Sen. Marsha Blackburn also has long considered a campaign for governor. Tennessee's senior U.S. senator, Blackburn has served in public office for more than 25 years and holds considerable sway among the state's GOP. A source familiar with Blackburn's plans said she intends to announce her next steps in August. If Blackburn does decide to run, and wins, she'd have to vacate her Senate seat in 2027 and appoint a successor until a special election. That could provide another political option for Hegseth in his home state. Tennessee requires candidates for the Senate to have lived in the state for at least three years. Scott Golden, chairman of the Tennessee Republican Party, said he has not spoken with Trump about a potential Hegseth run. 'Nobody has called to talk about this as a reality,' Golden said, adding, 'I don't know where it's coming from, and maybe it will be real.' Golden said the last time he spoke with Hegseth was on election night last year. He was last at the White House in April, he said, for a tour. 'Right now, it's just not something that we're even thinking about,' Golden said. Another Republican operative in Tennessee was skeptical that Hegseth's running for office was well developed or far along, saying they hadn't heard anything about it. Blackburn is close with Glenn Jacobs, the Republican mayor of Knox County and a former professional wrestler, and she would potentially appoint him to her Senate seat, according to a person familiar with the situation. This person said Blackburn hasn't had any conversations with Hegseth about an appointment. A person close to Blackburn said it was premature to discuss who she would choose as her successor. 'There has never been a conversation of anyone being appointed,' this person said, adding that Blackburn has also not spoken with anyone, including Hegseth, about him potentially running for office in Tennessee. 'I know they talk,' the person said, 'but never about this.'
