U.S. President Donald Trump looks at Federal Reserve Chair Jerome Powell holding a document during a tour of the Federal Reserve Board building, which is currently undergoing renovations, in Washington, D.C., U.S., July 24, 2025.
Kent Nishimura | Reuters
President Donald Trump on Tuesday slammed Federal Reserve Chair Jerome Powell as either “incompetent” or “crooked,” even as his Department of Justice faces growing opposition over its criminal investigation into the central bank leader.
Trump threw his latest punch at Powell after being asked whether the unprecedented DOJ probe undermines confidence in the Fed, which has long enjoyed independence from the executive branch.
“He’s billions of dollars over budget,” Trump said, apparently referencing costs related to a multibillion-dollar renovation of the Fed’s Washington headquarters.
“So, he either is incompetent or he’s crooked,” Trump said. “I don’t know what he is. But he does a – certainly he doesn’t do a very good job.”
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