During his speech at the U.S.–Saudi Investment Forum on November 19, 2025, President-elect Donald Trump renewed his sharp criticism of Federal Reserve Chair Jerome Powell, calling the current interest rate policy “too high” and warning of swift consequences if the situation is not addressed. Trump did not hold back, stating, “I’d love to fire his ass. He should be fired.”

In a pointed and characteristically direct remark, Trump also jokingly targeted Treasury Secretary nominee Scott Bessent, saying, “The only thing Scott is blowing it on is the Fed… And if you don’t get it fixed fast, I’m going to fire your ass.” While clearly a mix of humor and frustration, the comment underscores Trump’s longstanding concern that elevated interest rates are hampering economic growth, investment, and overall market confidence.

The remarks revive the high-profile feud between Trump and Powell, whom Trump originally appointed in 2018 but has repeatedly criticized for monetary policies seen as restrictive or counterproductive to growth. Experts note that federal law limits the president’s authority to remove the Fed chair without cause until Powell’s term ends in May 2026, making Trump’s statements largely rhetorical but nonetheless politically significant.

Trump framed the issue as central to his economic agenda, emphasizing that decisive action on rates is critical for revitalizing U.S. investment and ensuring American financial strength. The comments also signal to markets and global investors that the incoming administration intends to assert its influence over economic policy priorities, while maintaining a combative stance toward institutions it sees as obstructing growth.