00:00U.S. President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell
00:05after a Bloomberg report that the President is likely to do so soon.
00:10Trump is open to the idea of firing Powell, a source told Reuters on Wednesday,
00:14before Trump said he wouldn't even as he unleashed a new barrage of criticism against the Fed Chair for not cutting interest rate.
00:22Trump pulled some Republican lawmakers on firing Powell and received a positive response, the source told Reuters.
00:30In response to a question about whether the White House has given any indication that the President intends to try to fire Powell,
00:36a Fed official pointed to Powell's public statements that he intends to serve out his term.
00:43They did. So, you know, we're not planning on doing anything. We're very concerned.
00:48He's doing a little renovation for $2.5 billion of the Fed, building a renovation,
00:55and they have a close to $900 million cost overrun. And it's a shame.
01:01But the biggest cost overrun is the cost overrun for interest rates, because we should be paying three points lower.
01:07And we would save a trillion dollars a year in interest if that were the case.
01:11And all it is is the stroke of a pen.
01:14And that goes for his board, too, because his board is not doing the job, because they should try and rein this guy in.
01:20So he's doing a lousy job. But no, I'm not talking about that.
01:23We get fortunately we get to make a change in the next, what, eight months or so.
01:28And we'll pick somebody that's good, and we'll pick somebody. I just want a fair job.
01:33We want to see lower interest rates. Our country deserves it.
01:37We're making a lot of money. We're doing great as a country. We have no inflation.
01:41Record stock market, record business, record everything. Everything's a record now.
01:46We had the worst inflation in history under Biden, and now we have almost no inflation.
01:53There's lots of reports coming in, too.
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