"Near the end of his Monday briefing at Mar-a-Lago in Florida, a reporter asked Trump if he would tell Powell to resign. The president said he was "getting pretty close," adding, "I would fire him." He said he would announce Powell's replacement sometime in January. His comments came at the end of the briefing, which he held with Israeli Prime Minister Benjamin Netanyahu."
"During the briefing, Trump threw several insults at Powell, calling him "an absolute fool." He also brought out a common insult, "too late Powell," a reference to Powell not lowering interest rates as quickly as Trump wanted him to. Trump said he would launch a "gross incompetence lawsuit" against the Fed chair, repeating his old criticisms of Powell not lowering interest rates and spending too much on a renovation of the Federal Reserve building."
President Donald Trump said he plans to remove Jerome Powell as Federal Reserve chair and would announce a replacement in January. He made the comments at a Mar-a-Lago briefing with Israeli Prime Minister Benjamin Netanyahu and said he was "getting pretty close" to firing Powell. Trump criticized Powell's interest-rate decisions, called him "an absolute fool," used the phrase "too late Powell," and said he would file a "gross incompetence lawsuit" over rate policy and renovation spending. A Fed representative declined to comment. Powell, 72, was nominated in 2017 and reappointed in 2022, with his term ending May 2026. Trump has repeatedly sought Powell's ouster previously.
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