Trump says Powell should step down, calls him ‘bad for country’

President Donald Trump, President of the Federal Reserve, criticized Jerome Powell on Sunday, saying that he “will be a great thing” for the United States if he had to step down, adding, “It is very bad for the country.”

Trump has repeatedly threatened to shoot Powell, who appointed him in this role in 2017, because the central bank did not reduce interest rates according to his demands.

While talking to the correspondents on Sunday, Trump was asked about a new bill that would cancel any tax on capital gains on home sales, which will help people who cannot pay capital gains on their long -term home.

Trump said the bill will be a “great incentive for many people” who need money.

Trump is calling for a “terrible” head of the Federal Reserve Council Powell immediately, calling for discounts

Then the correspondent intervened and said between the invoice and the first to step down, which may enhance home sales.

“Well, I think if Jerome Powell stepped down, it will be great. I don’t know that he will go, but he must.” “Jerome Powell has been very bad for our country. We must have the lowest interest rate on Earth, and we don’t do it. He just refuses to do so.”

Then the President said that Powell spends $ 2.5 billion to rebuild the Federal Reserve, but it does not seem to be a kind of man who wants to spend $ 2.5 billion.

“I don’t know what he knows about construction, but you are talking about exceeding the cost,” Trump said, noting that Powell got the approval of the project, and started work on it during the Biden administration.

The head of the Federal Reserve Powell says that the American economy is in a “strong situation” where the central bank weighs the timing of price cuts

Federal Reserve Chairman Jerome Powell holds a press conference after the Federal Open Market Committee meeting on June 18, 2025, in Washington, DC. (Win McNamee / Getty Images / Getty Images)

Speaking of the economy, Trump said that there is no inflation and criticism flowing to the country, out of 71 economists, only two of them predicted the result correctly: Trump and another person who is believed to be from Warton.

“I can tell you,” Trump said, “I don’t need 5,000 people working for me behind the scenes like Jerome Powell, to tell him what he should say once a month, because they made a mistake. The Federal Reserve has erred,” Trump said. “I call it” it is too late. “It is always late.

“Every point costs 360 billion US dollars,” the president continued. “Think about it. We should be at three points. This is nearly a trillion dollars … We’ll see what is happening.”

Goldman Sachs says that under the independence of the central bank has economic repercussions

The Marriner S. ECCLES Fervention Reserve Building in Washington, DC, on Tuesday, June 25, 2024. (Ting Shen / Bloomberg via Getty Images / Getty Images)

Then he returned his attention to the reporter and a statement made by the reporter that Powell would resign.

“I mean, you tell me that it will resign. I hope it will stop,” Trump said. “I don’t know if it will resign, but it should be very bad for the country.”

The federal reserve renewal of the main offices building was initially estimated at a cost of $ 1.9 billion in 2019, although the estimated cost increased to nearly $ 2.5 billion due to “large increases” in the cost of wood, steel, cement and other building materials for each budget budget that Wall Street magazine cited in the 2023 report on this topic.

The federal law governs the federal reserve system the central bank is granted the power to build facilities for its use, as well as to preserve, enlarge or redesign these facilities – and also gives the federal reserve to the only control of those buildings and space at home.

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The financing used in the operations of the Federal Reserve is derived from the benefit generated by the management of the monetary supply, which allows it to self -financing mainly without relying on the annual credits of congress such as other agencies.

Eric Rafeel in Fox Business contributed to this report.