Washington [US], July 21 (ANI): US President Donald Trump on Sunday sharply criticised a Wall Street Journal (WSJ) report that claimed Treasury Secretary Scott Bessent intervened to dissuade him from firing Federal Reserve Chair Jerome Powell, calling the story “typically untruthful.”
In a post on Truth Social, Trump denied that anyone needed to explain to him the potential market consequences of dismissing Powell, whom he has repeatedly criticised for his monetary policies.
“The Wall Street Journal ran a typically untruthful story today by saying that Secretary of the Treasury, Scott Bessent, explained to me that firing Jerome ‘Too Late’ Powell, the Worst Federal Reserve Chairman in History, would be bad for the Market,” Trump wrote.
“Nobody had to explain that to me. I know better than anybody what’s good for the Market, and what’s good for the U.S.A. If it weren’t for me, the Market wouldn’t be at Record Highs right now, it probably would have CRASHED! So, get your information CORRECT. People don’t explain to me, I explain to them!”
As reported by The Hill, Trump has long expressed frustration with Powell over his handling of interest rates. Legal experts, however, have noted that the president does not have direct authority to remove the Federal Reserve chair before the end of his term, raising concerns among financial markets about the independence of the central bank.
When contacted for comment, the Federal Reserve declined to elaborate, saying it had “nothing to share” on the matter, The Hill reported.
Separately, Trump also filed a defamation lawsuit against the Wall Street Journal over a different story that included an alleged birthday message Trump had purportedly sent to Jeffrey Epstein, the convicted sex offender who died in jail in 2019.
The controversial message, reportedly typed inside the outline of a naked woman and signed by Trump, read: “A pal is a wonderful thing. Happy Birthday — and may every day be another wonderful secret,” according to The Hill.
In the lawsuit, Trump claimed the report inflicted “overwhelming financial and reputational harm” and is seeking billions of dollars in damages.
“Defendants concocted this story to malign President Trump’s character and integrity and deceptively portray him in a false light,” the complaint stated. (ANI)
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