Trump Issues "Ultimatum" to Powell: Will Consider Replacing Treasury Secretary if Rate Cut Not Achieved

BlockBeats News, November 20th, at the Saudi Investment Forum, President Trump, in a sarcastic tone, talked about Federal Reserve Chairman Powell with Treasury Secretary Benson, saying: "I mean, Benson, you really need to keep an eye on this guy. Powell must have something wrong with his mind. No, he definitely has some issues. To be honest, I really want to fire him. This guy is totally incompetent, and he should be sued for spending 4 billion dollars on a small building. The interest rates are too high, Benson. If you don't fix this problem soon, I'll fire you, got it?"

US Treasury Secretary Benson had previously advised Trump to let Powell stay in office until the end of his term, while Commerce Secretary Howard Lutnick "leans more towards firing" Powell. Federal Reserve Chairman Powell's term is set to end on May 15, 2026.