Trump attacks Fed Chair Powell amid DOJ probe, calling him “incompetent or crooked.” Photos: X.
US President Donald Trump on Tuesday launched a sharp attack on Federal Reserve Chair Jerome Powell, calling him either “incompetent” or “crooked” as the Department of Justice (DOJ) faces growing bipartisan criticism over its criminal investigation of the central bank leader.
The president’s latest comments came after he was asked whether the unprecedented DOJ probe could undermine public confidence in the Federal Reserve, which traditionally operates independently of the executive branch.
“He’s billions of dollars over budget,” Trump said outside the White House, referring to a multibillion-dollar renovation of the Fed’s Washington headquarters, which is now the focus of the DOJ inquiry.
“So, he either is incompetent or he’s crooked,” Trump continued. “I don’t know what he is. But he does a – certainly he doesn’t do a very good job.”
The president reiterated his criticism in Michigan while touring a Ford auto plant and speaking at the Detroit Economic Club.
“That jerk will be gone soon,” Trump said of Powell during his speech, signaling his dissatisfaction with the Fed chair’s handling of monetary policy and the renovations.
Treasury Secretary Scott Bessent reportedly warned Trump that the DOJ investigation could interfere with plans to confirm the next Fed chair after Powell’s term expires in May, according to CNBC.
Despite these warnings, U.S. Attorney Jeanine Pirro indicated her office has no intention of halting its legal efforts.
“The United States Attorney’s Office contacted the Federal Reserve on multiple occasions to discuss cost overruns and the chairman’s congressional testimony, but were ignored, necessitating the use of legal process- which is not a threat,” Pirro wrote on X.
“The word ‘indictment’ has come out of Mr. Powell’s mouth, no one else’s. None of this would have happened if they had just responded to our outreach,” she continued.
Powell, in a statement Sunday night, confirmed that the DOJ had served grand jury subpoenas and threatened a “criminal indictment” based on his prior Senate testimony regarding the Fed’s office renovations.
He directly tied the probe to Trump’s persistent complaints about the pace of interest rate reductions.
“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President,” Powell said in a video statement.
“No one, certainly not the chair of the Federal Reserve, is above the law,” he added. “But this unprecedented action should be seen in the broader context of the administration’s threats and ongoing pressure.”
Zubair Amin is a Senior Journalist at NewsX with over seven years of experience in reporting and editorial work. He has written for leading national and international publications, including Foreign Policy Magazine, Al Jazeera, The Economic Times, The Indian Express, The Wire, Article 14, Mongabay, News9, among others. His primary focus is on international affairs, with a strong interest in US politics and policy. He also writes on West Asia, Indian polity, and constitutional issues. Zubair tweets at zubaiyr.amin
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