President Donald Trump wants Federal Reserve Chairman Jerome Powell to lower interest rates to help America cut the costs of its massive debt after years of former President Joe Biden’s spending levels.

And, mocking his first administration Treasury Secretary Steven Mnuchin for advising him to make Powell his Fed Chair, Trump joked he could do a much better job because Powell is “stupid” and “too late” on cutting interest rates that were raised to deal with Biden inflation that Trump has hailed having wiped out.

“Maybe I should go to the Fed. Am I allowed to appoint myself?” Trump said outside the White House at a flag pole installation ceremony. “I’d do a much better job.”

Read more at Newsmax© 2025 Newsmax. All rights reserved.