Donald Trump didn’t hold back during a Wednesday address at a U.S.–Saudi investment forum in Washington. According to Reuters, he looked directly at his Treasury Secretary, Scott Bessent, and said, “Rates are too high, Scott, and if you don’t get it fixed fast, I’m going to fire your a**.”
Apparently, the comment was made as a joke. But, the blunt warning highlighted the pressure mounting inside the administration over the central bank’s reluctance to cut rates. Household debt has hit a historic high and Americans are feeling the pinch.
To set the scene, Jerome Powell’s term as chair of the Federal Reserve ends in May 2026, and the race to pick his successor is already underway. Bessent is in charge of finding a new Fed chair, while Trump has been increasingly vocal about Powell for being “grossly incompetent,” per Quartz.
🚨 BREAKING: Hilarious moment as President Trump tells Scott Bessent he’ll be FIRED if he doesn’t rein in Jerome Powell 🤣
“Scott’s blowing it on the FED. Because the Fed rates are too high, Scott, and if you don’t get it fixed fast I’m gonna FIRE YOUR A*S!” 😭
“Scott: ‘Sir,… pic.twitter.com/YobOCqRdf8
— Eric Daugherty (@EricLDaugh) November 19, 2025
You can definitely feel Trump’s impatience. It’s clear that the president wants a rate cut and wants it now.
While Bessent was reportedly in the audience during Trump’s remarks, the Treasury Secretary has earlier said he hopes to share a shortlist of candidates for the Fed role soon.
While Trump’s comment about firing Bessent may have been made in jest, the underlying message was serious. On one hand, Trump’s agenda hinges on lower interest rates. This is because higher rates make borrowing costlier, slows growth, and hurts voters’ economic confidence.
On the other hand, the Fed is supposed to be independent, free from political interference. This is so it can make decisions based on economic data and long-term stability. That institutional independence is precisely what economists and past Fed chairs warn must be respected.
🚨 WOW! In an incredible shift, America’s Q3 GDP projection has SURGED to a whopping +4.2%, defying the experts’ expectations yet again, per the Atlanta Fed.
President Trump and Scott Bessent are REVELING IN IT 🇺🇸 pic.twitter.com/yDuO5gX04w
— Eric Daugherty (@EricLDaugh) November 19, 2025
But, the bigger issue is that public may feel concerned that the president is threatening his Treasury Secretary.It brings up questions about whether the Fed can stay independent or if officials could be forced out due to political frustration. Or maybe it’s just Trump putting on a show for markets and voters?
Trump also mentioned he has some “great names” lined up for the Fed chair job. The person will likely be appointed for a 14-year term as a Fed governor. Fed Governors Christopher Waller and Michelle Bowman, former Fed Governor Kevin Warsh, BlackRock Inc. executive Rick Rieder, and White House National Economic Council Director Kevin Hassett are on the list. “I think I already know my choice,” the POTUS has previously said. They expect to make a decision by Christmas.
Of course, this isn’t simply about economics or interest rates. It’s about how real power is plays out in Washington. The president, the Treasury, the Fed and markets are all connected. And when Trump publicly threatens his own secretary, it definitely sends shockwaves through markets and could even affect things like student loans or mortgage rates. It affects the bottom line, and worry Americans, some of whom are already preparing for a recession.
Whether Bessent ends up fired or not, this moment shows just how much pressure there is on economic policy right now. It’s a high-stakes game and the players are top-tier. Keep an eye on how this plays out in the next few weeks — it could impact everything from interest rates to your wallet.
