'He's Been The Wrong Guy': Trump Delivers Repeated Blows To Fed Chair Powell As He Mulls Rate Cut

Forbes Breaking News

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

Transcript

00:00Mr. President, are you considering for the replacement to nominate for Lisa Cook,

00:06and what economic background or history are you...

00:08Well, we have some very good people for that position,

00:11and I think we have some very good people.

00:13We're down to...

00:14I mean, I think I maybe in my own mind have somebody that I like,

00:19but I deal with Scott, and I deal with Howard,

00:22and we're dealing with a lot of people, actually,

00:23that are going to be involved in that decision, ultimately.

00:26It's a very important decision, as we see.

00:28I mean, I got a bad recommendation when I went with Jerome Too Late.

00:33You know, he's too late.

00:35Nickname is Too Late, costing us a lot of money, hurting the housing.

00:41I mean, our housing industry is good, but it could be phenomenal.

00:44Most of this country, in terms, economic terms, has been phenomenal.

00:49We've never seen anything like it.

00:51Because of him and his high interest rates, the housing is less than it could be.

00:56We're going to get that straightened out very quickly.

00:59He gets out very quickly, fortunately.

01:01He's been the wrong guy.

01:03Not a bad person, I don't think, but, you know, I do think he has motives, by the way.

01:07But I don't consider him...

01:08I've dealt with worse.

01:10But he hasn't done the job.

01:12The recommendation from a certain person was not a great recommendation.

01:16That person vouched for him.

01:18But we're doing a very careful study.

01:20We'll see what happens.

01:21Look, we have...

01:22We just put a very good man in one position.

01:27We might switch him to the other.

01:30It's a longer term and pick somebody else.

01:32But we're very happy with the person we have in there.

01:35And we'll have a majority very shortly, so that'll be great.

01:38Once we have a majority, housing is going to swing and it's going to be great.

01:43People are paying too high an interest rate.

01:45That's the only problem with housing.

01:47We have to get the rates down a little bit.

01:49And when we do, it's going to be a tremendous difference.

01:52The country...

01:53The country is doing so well.

01:56It sort of blows through the fact that we have a man who's too late and not doing a very good job.

02:03Please...

Category

Transcript

Be the first to comment

Recommended