‘Going to fire your a**’: Trump warns Bessent to push Powell to cut rates or be fired, calls Fed Chair ‘mentally unfit’

Trump says he’d love to fire Powell, urges Bessent to ‘work on’ him to lower rates

US President Donald Trump has warned Treasury Secretary Scott Bessent while again threatening to fire Federal Reserve Chair Jerome Powell if interest rates are not lowered, suggesting Bessent is the one holding him back.

The US President also said that Fed Chair Powell has “mental problems" while addressing the US-Saudi investment gathering in Washington, DC.

“Rates are down despite the Fed. Scott [Bessent] you gotta work on this guy, he’s got some real mental problems. He has something wrong with him. I’ll be honest, I’d love to fire his ass," Trump said of Powell.

“You gotta work on him Scott. The only thing Scott is blowing it on is the Fed. The rates are too high, Scott. And if you don’t get it fixed fast, I’m going to fire your ass," he further added.

President Donald J. Trump speaking earlier at the U.S-Saudi Investment Forum about Federal Reserve Chair Jerome Powell and his Treasury Secretary Scott Bessent: “Rates are down despite the Fed. Scott [Bessent] you gotta work on this guy, he’s got some real mental problems. He has… pic.twitter.com/j6PdOzjgZ8

— OSINTdefender (@sentdefender) November 19, 2025

Also read: 'Grossly incompetent': Donald Trump escalates attacks on Fed Chair Jerome Powell

Speaking at a Saudi Arabia–backed investment forum in Washington, US President Donald Trump urged Treasury Secretary Scott Bessent, who is leading the search for the next Federal Reserve chair, to accelerate the process of replacing Jerome Powell before his term expires in May. Powell’s tenure as a Fed governor extends until 2028.

The upcoming Fed chair will begin a new 14-year term on February 1, filling the role left vacant by Stephen Miran, who is on unpaid leave from the White House Council of Economic Advisers.

Bessent recently said Trump is expected to meet the three finalists after Thanksgiving, on November 27, with a final selection likely before Christmas.

Trump-Powell feud

Trump has oscillated between threatening to dismiss Powell and minimising the likelihood of doing so amid concerns that such a move could disrupt financial markets.

The Federal Reserve, historically insulated from political pressure, is mandated to maintain maximum employment and ensure price stability. While Trump has implied Bessent holds sway over the central bank, the adviser has no formal authority at the Fed.

Trump’s long-running dispute with Powell is rooted in Powell’s reluctance to embrace the steep interest-rate cuts Trump has pushed for to stimulate economic growth. The President has repeatedly criticised Powell for being “too late” in loosening monetary policy and accused the Fed of hampering his economic agenda by keeping borrowing costs elevated.

This tension has intensified broader concerns about preserving the Fed’s independence, which Powell has consistently defended, while Trump views lower rates as essential to his policy goals.