President Donald Trump is discussing the “big, beautiful account”, lowering interest rates, and the alleged cognitive drop scandal involving former President Oeo Biden in Sunday morning futures.
President Donald Trump He said he would welcome anyone, but Federal Reserve President Jererom Powell would cut interest rates because the United States faces that they should refinance a debt of about $ 9 trillion.
Fox News’ “Sunday Morning Futures” host Maria Bartiromo sat down with Trump in an interview on Sunday when he asked the president how he would handle a $ 9 trillion debt to be held this year.
Trump said he would refinance $ 9 trillion as short -term debt because “we have a stupid person” in the Federal Reserve.
The president explained his desire for the Federal Reserve to lower interest rates, so the United States does not have to pay 10 years at a higher rate.
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President Donald Trump has criticized Federal Reserve President Jererom Powell, calling him “stupid”. (Getty Images / Illustration of Photos / Getty Images)
“Then we will enter someone in the Fed, who can reduce (rates),” Trump said, noting that the rates should be at 1 or 2%. “You know, if you look at Switzerland, they are the lowest at the moment. They are much less than a moment and honestly, we should be there, because … Without the United States, the whole world is not working.”
Then Bartomromo turned the president’s attention to a possible replacement for Powell, who remains less than a year in his mandate as a federal chair, as his mandate expires in May 2026.
Trump nominated Powell for his role in 2017, although the president signaled he would not nominate his chair for another term. In fact, Trump recently gave Powell the nickname of “M -Delvet late”, despite his efforts to lobby the Fed to lower interest rates.
Trump said he could name Powell’s successor in the near future, well before the end of Powell’s term.
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Federal Reserve Chairman Omeerom Powell reacts to a question during the stage of the Washington Economic Club meeting at the Renaissance Hotel in Washington, DC (Reuters/Amanda Andred-Roades/File Photo/Photos of Reuters)
Ministry of Finance Scott betting is one of the leading candidates for the role, Bloomberg News reported, citing people familiar with the issue, although the exit said the administration had not started formal interviews.
Another candidate is Former Fed official Kevin Warsh, who Trump considered the role of the Ministry of Finance before deciding to nominate Begent, Bloomberg reported.
During Bartomo’s interview with Trump, the host noted that Trump teased several names and had several people in mind to succeed Powell.
“They will all be good,” Trump said, before the host asked if his decision was made not to be appointed now to put more pressure on Powell.
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Kevin Warsch, a former governor of the US Federal Reserve, speaks during the 2017 annual conference of the American Economic Association (AEA) in Chicago in Chicago. (Daniel Acker / Bloomberg through Getty Images / Getty Images)
Trump said reporters asked him if there were other names.
“I say,” Yes, I do it. Everyone except Powell, “the president said.
He also said reporters would ask if Kevin is an opponent.
“Kevin is very talented, but I don’t know if he will be. But he is a very talented man,” Trump said. “He wouldn’t do what is Powell.”
Trump slammed Powell last week not to cut interest rates, as the president of the Federal Reserve testified in front of the Senate panel.
“I think it’s terrible,” Trump said in response to a question from a rapporteur during a press conference at the NATO Summit in The Hague, the Netherlands.
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A pedestrian crosses the Federal Reserve building “Mariner S. Eccles” in Washington on Saturday, June 3, 2023. (Nathan Howard / Bloomberg / Getty Pictures)
Trump reiterated his criticism of Powell to maintain interest rates too high, saying the country would have to pay more for debt.
Trump had earlier directed Powell on Tuesday before his testimony to the House Financial Services Committee.
“I hope Congress really does this very stupid, stubborn face, more. We will pay for his inability for the coming years. The board needs to be activated. Make America again great!” The president said in the announcement of the truth social.
During his testimony on Tuesday, Powell said the economy is in a “firm position” as the Central Bank is monitoring inflation data and the labor market for signs that it should adapt monetary policy.
The Fed has kept the lower interest rates as a result of uncertainty about trade policy, as Trump has imposed tariffs on US trade partners. Tariffs are taxes on imports generally paid by the importer, who often transfers some or all additional consumer costs.
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“We expect Tariff inflation Let’s appear more, but I want to be honest, we really don’t know how much of it will be transferred to consumers. It’s just not, and we won’t know until we see it. It may be lower than we expected, it could be higher. We have to wait and see what is kind of what we do, “Powell explained.
The three-year reduction in Fed’s interest rates last year-including the reduction to 50-base in September, as well as the two reductions to the 25-base in November and December-they were discussing how the MP asked if the conditions were similar now and could lead to a decrease in the rate.
Fox Business Eric Revel contributed to this report.
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