Trump says Federal Reserve chairman's job is 'safe': 'I mean, sure, why not'

Trump says Federal Reserve chairman's job is 'safe': 'I mean, sure, why not'
© Greg Nash

President TrumpDonald John TrumpThe Memo: Biden seeks revival in South Carolina Congress eyes billion to billion to combat coronavirus Sanders makes the case against Biden ahead of SC primary MORE in an interview broadcast early Thursday said Federal Reserve Chairman Jerome Powell's job is safe after the central bank again cut interest rates, though not as aggressively as the president has demanded.

“It’s safe, yeah, it’s safe. I mean, sure, why not?” Trump said on "Fox & Friends."

“I mean, he’s got a job, and you know, I’m disappointed in him," he continued. “I don’t think he knows how to play the game well."


Trump has the legal authority to remove Powell, whom he picked to lead the bank, for "cause," which is not defined in the Federal Reserve Act.

The Fed on Wednesday voted 7-3 to cut interest rates for the second time this year, lowering its lending rate 0.25 percentage points to a 1.75 to 2 percent baseline range.  

Trump has frequently targeted Powell, at one point saying the top Fed official could be a more dangerous threat to the U.S. economy than President Xi Jinping of China. 

The president has pressured the Fed to make massive interest rate cuts amid rising anxiety about the U.S. economy, which is seen as crucial to Trump's reelection.

Powell has warned that cutting rates cannot solve the harm created by Trump's trade battles.