President attacks Fed policy and Jerome Powell in press exchange
Summary
During a White House Q&A the President said Fed Chair Jerome Powell was "doing a bad job" and argued rates should be several points lower, tying high rates to housing affordability problems and criticizing Fed spending and a $2.7 billion building project.
A reporter asked whether Fed Chair Jerome Powell should resign. The President replied, "I think he's doing a bad job," and repeatedly faulted the Federal Reserve's timing, saying higher rates have made it harder for people to buy homes. He called Powell "too late" in his actions and said rates "should be three points lower."
Scott Bessent, who spoke after that question, urged a Federal Reserve internal review focused on non‑monetary spending and "mission creep," citing refurbishment and construction projects; he said the Fed should cut rates. The President repeated concerns about Fed spending and referenced a $2.7 billion Fed building and a $900 million overrun as part of his critique.
Those remarks were assertions by the President and an attendee during a press Q&A; the briefing did not include Fed responses or new policy actions. The article reports the statements as the speakers' claims rather than verified policy outcomes.
AI generated
The text on this page is AI generated. Summaries, highlights, analysis, and video transcripts are all produced from the original source material.
AI can make mistakes, so if you spot one, and we will fix it for everyone.
Note: the source content is unaltered by us. Any content source we link to, be it a video, an audio recording, or a document, is presented exactly as its publisher released it. That publisher is usually a government body, sometimes an individual official or another organisation.
