"The Daily Show" Destroyed Trump's Latest Biden Attack By Showing Literally Just 1 Clip That Proved He Was So, So Wrong
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Trump — who has entertained firing Powell, launching attacks against him for not cutting interest rates — described him as a 'terrible' Fed chair before adding that he was 'surprised' that Biden 'put him in and extended him.'
In reality, Trump nominated Powell to the post in 2017 before Biden renominated him for a second term in 2021. He was confirmed by the Senate in both instances.
Klepper jokingly took the president's suggestion at face value.
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'Yeah! Yeah, why did Joe Biden put Jerome Powell in? Let's go back to when Joe Biden appointed Jerome Powell and see what Joe Biden said about him,' said Klepper, teeing up a clip of Trump announcing Powell as his Fed chair pick.
In a ceremony outside the White House at the time, Trump called Powell 'strong,' 'committed' and 'smart' (comments that conflict with his current description of the Fed chair as a 'stupid person,' a 'numbskull' and a 'stiff').
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'I get it. I'm also trying desperately to forget everything that happened during Trump's first term,' Klepper quipped.
Klepper then highlighted Trump's 'pretty much nonstop' threats to fire Powell before turning to comments showing that Powell doesn't seem 'fazed' by the president's talk.
Powell, when asked if he believes the president has the power to 'fire or demote' him back in November, had a simple response: 'Not permitted under the law.'
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'Wow!' said Klepper as the Daily Show crowd applauded Powell, who repeated his comments in the clip.
Klepper joked, 'He went on to add, 'Try me, bitch.''
Check out more of Klepper's Thursday monologue on 'The Daily Show.'
This article originally appeared on HuffPost.
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This story has been updated with additional developments. Ben Werschkul is a Washington correspondent for Yahoo Finance. Click here for political news related to business and money policies that will shape tomorrow's stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29 minutes ago
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Washington's local restrictions on building heights forced it to build underground, which is pricier. In 2024, the Fed's board canceled its planned renovations of a third building because of rising costs. The Fed says the renovations will reduce costs 'over time' because it will be able to consolidate its roughly 3,000 Washington-based employees into fewer buildings and will no longer need to rent as much extra space as it does now. White House budget director calls renovations 'ostentatious' Russ Vought, the administration's top budget adviser, wrote Powell a letter that said Trump is 'extremely troubled' about the Fed's 'ostentatious overhaul' of its facilities. The Fed's renovation plans call for 'rooftop terrace gardens, VIP private dining rooms and elevators, water features, premium marble, and much more," Vought said in last week's letter. 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In its September 2021 approval of the project, the National Capital Planning Commission said it 'Commends' the Fed for 'fully engaging partner federal agencies.' But because the Fed changed its plans, the administration is indicating it needed to go back to the commission for a separate approval. Essentially, White House officials are saying Powell is being reckless with taxpayer money because of the cost of the renovation, but they are also accusing him of acting unethically by scaling back the project to save money. James Blair, the White House deputy chief of staff whom Trump named to the commission, said in a post on X that Powell's June congressional testimony "leads me to conclude the project is not in alignment with plans submitted to & approved by the National Capital Planning Commission in 2021.' Blair said he intends to review materials from the Fed on how the approved 2021 renovation plans have changed and circulate a letter among his colleagues on the commission that would go to Fed officials. The Fed has asked for an independent review of the project The central bank says, in a series of frequently asked questions on its website, that it is "not subject to the direction' of the commission and has only complied with its directives voluntarily. Instead, the Fed said it is accountable to the Senate and the House of Representatives and is overseen by an independent inspector general, not the White House. Powell has asked the inspector general to review the costs of the renovation project. ___ Follow the AP's coverage of the Federal Reserve System at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
