Trump Shreds Fed Chair Jerome Powell, Tells Reporter 'You'd Do A Better Job Than Him'

Forbes Breaking News

During a cabinet meeting Tuesday, President Trump spoke about Federal Reserve Chair Jerome Powell.

Transcript

00:00The Council of Economic Advisers released a new report saying that imported goods have actually decreased in price from December.

00:09Well, my question is, well, the Fed Chairman keeps saying that tariffs are going to cause price increases.

00:15Are the prices just not passed through?

00:16Chairman of the Fed?

00:18Yes, exactly.

00:19You'd do a better job than that.

00:21Are the prices just not passed through yet?

00:24No, I think what's happening is everything's evening out.

00:27You know, when we charge, see what people don't understand, the other countries have been charged, almost every country, charges us tariffs.

00:36We had deficits with everybody for years, for decades.

00:40And we were like this big monolith that made bad deals with everybody.

00:45You know, we rebuilt South Korea and we stayed there.

00:48It's okay, we rebuilt it and we stayed there.

00:51And they pay us very little for the military.

00:53I got them to pay billions of dollars and Biden didn't cancel it when he came in.

00:57You know, I said to South Korea, as an example, you know, we give you free military, essentially, very little.

01:03And I think you should pay us $10 billion a year.

01:07And they went crazy.

01:09But they agreed to three.

01:11So I got three with a phone call.

01:14And I was satisfied.

01:16I said, but next year we have to talk.

01:17And then we had a rigged election and we never got to talk.

01:19And you know what Biden did?

01:21He, they probably went to him and they said, listen, Trump treated us terribly and we shouldn't be paying anything.

01:29And he cut it down to nothing.

01:31So that's what happens.

01:32It's ridiculous.

01:34That's the other thing.

01:35We're talking to countries about contributing to the military, not only just paying more in NATO, but contributing.

01:40You know, we have 45,000 soldiers in South Korea.

01:43We have 45,000 soldiers in Germany, 52,000 actually.

01:48And, you know, that's a huge economic development for them.

01:51That's tremendous amount.

01:53That's like having a city.

01:54That's tremendous money for them and it's a tremendous loss for us.

01:58So we're talking in a very nice way.

02:00We're talking to them about it.

02:01It's very unfair.

02:02We supply the military.

02:03It's a many very successful country.

02:05I mean, South Korea is making a lot of money and they're very good.

02:11They're very good.

02:12But, you know, they should be paying for their own military.

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