On Sunday, President Trump expressed his frustration after Treasury Secretary Scott Bescent attempted to speak with him about firing Federal Reserve Chairman Jerome Powell. This incident came as Trump is currently involved in a lawsuit against The Wall Street Journal over a story discussing his ties to the late Jeffrey Epstein.
Trump seems intent on removing Powell from his position regarding interest rates. However, legal experts suggest that he may not have the power to dismiss the Fed’s chair unilaterally, despite his possible intentions.
In a post on Sunday, Trump shared that he had been informed by the Journal about Bescent’s disparaging remarks about Powell, calling him “the worst Federal Reserve Chairman in history” and suggesting he was “too late” for the market. “I know what’s best for the market and for America,” Trump claimed. He further argued that without his influence, the market wouldn’t be at its current record levels and might have crashed instead. “So get your facts straight. People shouldn’t be explaining things to me; I’ll explain things to them!”
When asked for comments, the Fed stated, “there is nothing to share.”
Meanwhile, Trump’s lawsuit against the Journal claims that a report, which included a letter he allegedly sent to Epstein for his 50th birthday, harmed his reputation and finances significantly. The letter reportedly featured an image of a naked woman, along with what appeared to be Trump’s signature.
In the message, Trump wrote, “My friends are wonderful. Happy birthday; may each day be a great secret.”
The lawsuit states that the publication of this story severely damaged Trump’s character and integrity, leading to claims of billions of dollars in damages. Trump’s legal team argues that the Journal created a malicious narrative about him.
Moreover, Trump has attempted to address an increasing demand, even from some of his staunch supporters, to fully release federal documents related to Epstein, who died in what was ruled a suicide in a Manhattan jail in 2019. While several Trump administration officials previously entertained conspiracy theories about Epstein, earlier this month, they clarified that he had indeed committed suicide and did not maintain a “client list.”
