00:00 Josh
President Trump, turning up the pressure on Federal Reserve Chair Jerome Powell again on Thursday. For more, let’s get to Yahoo Finances, Jennifer Schonberger. Jen.
00:09 Jennifer Schonberger
Good afternoon, Josh. That’s right. President Trump out lashing out today at Fed chair J. Powell, just one day after the Fed chair said that he expects higher inflation and weaker growth from the president’s tariffs, showing no signs of cutting interest rates. The president hinting at potentially dismissing the central banker. Take a listen.
00:56 Donald Trump
Oh, he’ll leave. If I ask him to, he’ll be out of there, but I don’t think he’s I don’t think he I don’t think he’s doing the job. He’s too late. Always too late, a little slow. And I’m not happy with him. Uh, I let him know it. And uh, oh, if I want him out, he’ll be out of there real fast. Believe me. We have a Federal Reserve chairman that is playing politics. Uh, somebody that I’ve never been very fond of actually. But uh, he’s playing politics. Interest rates should be down now.
02:14 Jennifer Schonberger
This coming after the president posted earlier today on his social media site, Truth Social, that quote, Powell’s termination cannot come fast enough. Powell’s quote, always too late and wrong and should be cutting interest rates alongside other central banks. Now the Wall Street Journal is reporting that President Trump has been considering firing the Fed chair, discussing that for months, but has not come to a final decision about whether to try to oust him before his term is up in May 2026. Now separately, the president was meeting today with the Italian Prime Minister, discussing trade among other issues. The president projecting confidence that he can clinch a deal within the 90-day pause with the European Union, saying 100% Europe very much wants to make a deal, and it will be a fair deal. Now we also got an update from Treasury Secretary Scott Beson, who was also in the Oval Office with the president alongside the Italian Prime Minister, who said the goal is to strike trade deals with the biggest 15 economies. He said that yesterday’s meeting with the Japanese on trade was quote, fantastic. He expects a meeting with the South Koreans next week, and is already in talks with India and has made a call to the EU. Now the president was also asked today, why he simply can’t pick up the phone and call China’s President Xi, to which the president responded, we will make a very good deal with China. Josh.
04:46 Josh
Thank you, Jen.