Donald Trump openly criticized
Federal Reserve Chairman
Jerome Powell during the U.S.-Saudi Arabia Investment Forum for damaging the housing market and delaying interest rate adjustments.
Trump expressed his desire to fire Powell, calling him incompetent and highlighting Treasury Secretary Scott Bessent's cautious advice against immediate dismissal due to potential market instability. The Federal Reserve remains divided on monetary policy amid economic uncertainties, with Trump starting to interview successors, including Kevin Hassett, Christopher Waller, and Kevin Warsh.