President Donald Trump signaled Wednesday that he may fire Treasury Secretary Scott Bessent if the Federal Reserve does not move faster to cut interest rates.
Speaking at a U.S.–Saudi investment forum in Washington, Trump criticized the Fed for keeping rates “too high” and warned Bessent to “get it fixed fast.”
President Donald Trump suggested he would fire Scott Bessent if the Treasury secretary doesn’t help secure lower interest rates, a move that is up to the Federal Reserve https://t.co/7wp6pRiMTV
— Bloomberg (@business) November 19, 2025
The president has pressured Fed Chair Jerome Powell throughout his second term, though advisers have repeatedly urged him not to remove Powell before his term ends in three months.
Trump appeared to suggest that Bessent has privately argued against firing Powell, while Commerce Secretary Howard Lutnick has pushed for a more aggressive approach.
Trump on Jerome Powell: "I'd love to fire his ass. He should be fired. The only thing Scott [Bessent] is blowing it on is the Fed. The rates are too high, Scott. And if you don't get it fixed fast, I'm going to fire your ass." pic.twitter.com/s653VB3MI1
— Aaron Rupar (@atrupar) November 19, 2025
Markets have viewed Bessent as a stabilizing force inside the administration, raising concerns among Wall Street analysts about Trump’s threat.
The Fed has cut rates twice since September but remains divided over further reductions as inflation stays above target. New labor market data delayed by the shutdown is expected Thursday.
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TIPP Staff
TIPP Staff
TIPP Staff
