Trump will make Powell replacement decision at 'appropriate time'
Share and Follow


() Office of Management and Budget director Russel Vought sidestepped a question from about who may succeed Jerome Powell as chairman of the Federal reserve on Friday.

Vought fielded questions from reporters this morning about Powell, as tensions between President Trump and Powell continue to escalate over interest rate policy.

Asked by ‘s Libbey Dean whether the president has discussed potential replacements for Powell, Vought said, “Those are announcements that he will make at the appropriate time, when he’s ready to do it.”

Trump has repeatedly criticized Powell and suggested replacing him, though the Supreme Court has indicated that a president likely does not have the authority to fire a Federal Reserve chair.

The Federal Reserve has so far resisted pressure to cut interest rates, but the White House continues to ramp up its push. “I think the president has a policy view with regard to we need lower rates, he has a policy with regards to the fact that Jerome Powell has been late repeatedly, the Fed has been mismanaged.” Vought said this morning.

Vought also addressed the controversy over the Federal Reserve’s planned $2.5 billion headquarters renovation. “This is about the renovations that are occurring, the extent to which they are largess,” he said. “The cost that we’re now talking about is $2.5 billion. He (Trump) is a developer, and the size of this project is something that should never have gone forward.”

On Thursday, Vought sent a letter to Powell claiming the president is “extremely troubled” by the expensive Federal Reserve renovation plans.

Share and Follow
You May Also Like
Federal judge blocks 'unlawful' ICE detentions in southern California

Federal judge halts ‘illegal’ ICE detentions in southern California

A judge at the federal level strongly criticized the Trump administration on…
Trump rally shooting survivors turn attack into motivation year later: ‘go out there and live life’

Trump rally shooting survivors turn attack into motivation year later: ‘go out there and live life’

NEWYou can now listen to Fox News articles! PITTSBURGH – A year…
Ndamukong Suh announces NFL retirement following 13-year career

Ndamukong Suh retires from NFL after 13 years

Ndamukong Suh is calling it quits after thirteen years in the NFL.…
Noah Presgrove bombshell that could FINALLY crack teen death mystery

Noah Presgrove reveals key discovery that may SOLVE long-standing teen death puzzle

The mystery of how a teenager ended up dead beside a lonely…
Trump announces new tariffs on Mexico, EU to begin Aug. 1

“New Tariffs from Trump on Mexico and EU Set to Take Effect on August 1st”

Trump announced the tariffs on two of the United States’ biggest trade…
State Department is firing over 1,300 employees under Trump administration plan

Trump Administration Plan Leads to Firing of 1,300 State Department Employees

KUALA LUMPUR, Malaysia (AP) The U.S. State Department is firing more than…
Texas deadly floods: Victims from the Houston area

People from Houston area affected by fatal floods in Texas

Early in the morning on July 4, a catastrophic flood in the…
Gervonta Davis arrested in Miami on domestic violence charge

Gervonta Davis apprehended in Miami for domestic violence allegation

Police say the charge was connected to an incident that occurred last…