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# Trump Threatens to Fire Fed Chair and Treasury Secretary Over Interest Rates
In pressuring the federal Reserve to lower its benchmark interest rate,President Donald trump is putting a twist on his “you’re fired” catchphrase from his days as a game show host.
Speaking at a Saudi Arabian investment forum in Washington, D.C. on Wednesday, Trump not only renewed his frequently repeated threats to fire Fed Chair Jerome Powell, but added his own Treasury secretary, Scott Bessent, to the firing list if the fed does not move faster to lower borrowing costs. It was unclear how serious Trump was with either threat.
“The only thing Scott’s blowing it on is the fed, because … the rates are too high.Scott, if you don’t get it fixed fast, I’m going to fire your ass,” he said, provoking laughter in the audience.
What This Means For The Economy
Should Trump follow through on his threat to fire, the move could undermine confidence in the Fed’s independence, which could lead to economic instability.
Key Takeaways
- President Donald Trump once again expressed his desire to fire Fed Chair Jerome Powell, who has kept interest rates higher than Trump would prefer.
- Trump also threatened to fire treasury Secretary Scott bessent if he could not get Powell to cut rates.
- The Fed is an independent central bank, and Powell does not report to either Trump or Bessent.