President Donald Trump discussed the ‘big, beautiful bills,’ interest rates on ‘Sunday morning futures’ and discussed the alleged cognitive decline scam, including former President Joe Biden.
chairman Donald Trump He said that he would welcome anyone, but the Federal Reserve President Jerome Powell would have to reduce interest rates as the US is facing a loan of about 9 trillion dollars.
Fox News “Sunday Morning Futures” host Maria Bartiromo on Sunday aired with Trump for an interview aired on Sunday when he asked the President when he was going to deal with the $ 9 trillion in the debt that was held this year.
Trump said he was going to refinance $ 9 trillion as a short -term loan because in the Federal Reserve, “We have a foolish person”.
The President explained its desire to reduce the interest rates for the Federal Reserve, so the US does not have to pay for a 10 -year loan at a higher rate.
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President Donald Trump called Federal Reserve President Jerome Powell as “stupid”. (Getty Image / Photo Illustration / Getty Image)
Trump said, “Then we are going to bring someone into the fed that is going to be able to reduce (rates),” Trump said, looking at the rates, should be 1 or 2%. “You know, if you look at Switzerland, they are the lowest. They are much less than a point, and clearly, we should be there too, because … without the United States, without the United States, the whole world does not work.”
Baratiromo then diverted the President’s attention to a possible replacement for Powell, who has less than a year in his tenure as a federal president, as his term ends in May 2026.
Trump nominated Pavel in the role in 2017, although the President indicated that he would not nominate the chair for another term. In fact, Trump recently gave Powell the nickname of “Mr. to Late”, which was amid his efforts to cut the fed to cut interest rates.
Trump suggested that he may name Powell’s successor in the near future, well before the end of Powell’s tenure.
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The Federal Reserve Chair Jerome Powell Answers to an on-stage discussion at a meeting by The Economic Club of Washington at the Renaissance Hotel in Washington. (Reuters/Amanda Andrade-Rodes/File Photo/Reuters Photos)
Treasury Secretary Scott Besant One of the leading contenders for the role, Bloomberg News said citing people familiar with the case, although the outlet said the administration has not started formal interviews.
Another contender is former Fed Officer Kevin Wars, which Trump considered for the role of Treasury Secretary before making an election to nominate Besant, Bloomberg said.
During Bartiromo interview with Trump, the host said that Trump had teased some names and he had some people in his mind to make Pavel successful.
“They would all be good,” Trump said, before the host asked whether their decision to appoint is being done to put more pressure on Powell.
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Former US Federal Reserve Governor Kevin Wars, the American Economic Association (AEA) speaks during the annual conference in Chicago at 2017. (Daniel Acker / Bloomberg Getty Image / Getty Image)
Trump said that reporters asked him if he had other names.
“I say,” Yes, I do. Anyone but Powell, “said the President.
He also said that reporters asked if “Kevin” was a contender.
“Kevin is very talented, but I don’t know if it’s going to happen to him. But he is a very talented man,” said Trump. “He would not be doing that Powell is.”
Trump slammed Pavel to not cut interest rates last week, as the Federal Reserve Chair testified before the Senate panel.
“I think he is terrible,” Trump said in response to a question to a reporter during a press conference at the NATO Summit in the Netherlands.
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A pedestrian on Saturday, June 3, 2023 in Washington, DC Marinner S. Excel Federal passes through the reserve building. (Nathan Howard / Bloomberg / Getty Images)
Trump reiterated his criticism of Powell to keep the interest rates too high, saying that the country would have to pay more for loans.
Trump had earlier targeted Powell on Tuesday before his testimony before his testimony before the House Financial Services Committee.
“I hope the Congress actually works for this very dumb, difficult-lodged person, over. We will pay for its inability for many years to come. The board should be activated. Make America great again!” The President said in a position on truth social.
During his testimony on Tuesday, Powell said that the economy is in a “solid position” because the central bank monitors inflation and labor market data that it needs to adjust monetary policy.
Fed has banned cutting interest rates due to uncertainty on trade policy, as Trump has imposed tariffs on American business partners. Tariffs are taxes on imports that are usually paid by the importer, often consumers pass some of the additional costs or to all.
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“we hope so Tariff inflation To show more, but I want to be honest, we do not really know how much will be passed through consumers. We don’t do now, and we will not know until we see it. This may be less than our expectation, it can be more. We have to wait and see what we are doing, “Powell explained.
Last year, the three interest rate cuts in the Fed-September-September and December, along with the 50-base-point cuts, were discussed as a legalist in November and December, including two 25-base-point cuts-whether the situation is now the same and can cut a rate.
Fox Business’ Eric Revell contributed to this report.
