While attending the US Saudi Investment Forum, US President Donald Trump took a subtle dig at his Treasury Secretary Scott Bessent. And on top of that, he openly threatened to fire him. He blamed Bessent for failing to bring interest rates down.
The President joked that he would fire his Treasury Secretary if he did not lower the interest rates. He warned Scott to “fix” the issue promptly. The POTUS also took a shot at the Federal Reserve Chair Jerome Powell for the U.S.’ Central Bank not lowering the interest rates amid his tariff policies threatening inflation risks.
Joking about firing his Treasury Secretary, Trump said, “You’ve got to work on him, Scott. The only thing Scott’s blowing it on is the Fed, because the Fed ― the rates are too high, Scott. And if you don’t get it fixed fast, I’m gonna fire your a**, OK?”
President Donald Trump repeated his attacks on Federal Reserve Chair Jerome Powell on Wednesday, saying he’d “love to fire his ass” and threatening to do the same to Treasury Secretary Scott Bessent.
“I’ll be honest, I’d love to fire his ass,” Trump said, referencing the Fed… pic.twitter.com/81n7o8Z1ZL
— PBS News (@NewsHour) November 19, 2025
For context, Scott Bessent has no control over the interest rates because the Federal Reserve is identified as a politically independent agency. Interestingly, although Donald Trump has time and again called for Jerome Powell’s dismissal, he has no legal authority to do so.
🚨 JUST NOW: President Trump gives a MASSIVE shoutout to Treasury Sec. Scott Bessent
“Secretary Scott Bessent has been FANTASTIC! Where is Scott? We were thinking about him for the Fed, but he wants no part of it. He likes being Secretary of the Treasury. I think we’ll leave… pic.twitter.com/2rbWp6tAEN
— Eric Daugherty (@EricLDaugh) November 19, 2025
The President did not stop there when it came to his jibes at the Federal Reserve Chair. Calling Powell grossly incompetent, he also referred to him as having some mental issues.
Trump added, “He’s got some real mental problems; there’s something wrong with him. I’ll be honest, I’d love to fire his a**. He should be fired. Guy’s grossly incompetent.”
Furthermore, the US President also mocked Bassent, urging him not to fire Powell, whose term will be ending in May 2026. Imitating Scott, Trump said, “Don’t fire him. Sir, please don’t fire him ― he’s got three months to go.”
He then went on to compliment Scott for being the voice of reason when it comes to these stressful matters. Donald Trump said, “He’s the voice of reason. You’re very lucky you have him, I’ll tell you that. He’s done a good job.”
Talking about Trump’s history with Jerome Powell, the latter was nominated by the President as the Federal Reserve Chair in 2017. However, things soon turned sour between the two.
The President grew bitter towards Powell for reportedly increasing the interest rates, also holding him responsible for a stock market drop. This soon led to Trump trying for Powell to resign, which he failed, time and again.
With former President Joe Biden taking over the White House, Jerome was nominated for a second term that would inevitably continue in Trump’s second term as the US President. Reportedly, the Fed is witnessing some tension when it comes to cutting down the interest rates.
For those who don’t know, the cutting down of the interest rates is usually determined by the economic growth and the inflation status. According to the minutes of the Fed’s October 2025 meeting, its staff members “expressed strongly differing views about what policy decision would most likely be appropriate”. The minutes of the meeting were released on Wednesday (November 19).
