In a Sunday interview with NBC’s “Meet the Press,” the President stated, “I didn’t ever threaten to demote him. I’d be able to do that if I wanted, but I haven’t suggested that.”
The Federal Reserve has raised interest rates seven times since Trump took office in January 2017. The President continued to criticize Powell for his decisions to raise rates.
“Obama had someone that kept the rates very low,” Trump said, referring to Powell’s predecessor Janet Yellen, whom Trump opted not to reappoint for a second term. “I had somebody that raised the rates very rapidly–too much. He made a mistake, that’s been proven.”