Trump on Jerome Powell:
That jerk will be gone soon. pic.twitter.com/VbURXCuuZG
— Clash Report (@clashreport) January 13, 2026
“He’s billions of dollars over budget,” Trump said, apparently referencing costs related to a multibillion-dollar renovation of the Fed’s Washington headquarters, which is at the centre of the DOJ’s probe.
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.
The word “indictment” has come out of Mr.…— US Attorney Pirro (@USAttyPirro) January 13, 2026
“So, he either is incompetent or he’s crooked,” Trump told reporters outside the White House. “I don’t know what he is. But he does a – certainly he doesn’t do a very good job.”
“That jerk will be gone soon,” Trump ferociously said of Powell during the speech.
Trump’s comments came as bipartisan criticism of the investigation and support for the Fed’s independence continue to grow.
Video message from Federal Reserve Chair Jerome H. Powell: pic.twitter.com/O4ecNaYaGH
— Federal Reserve (@federalreserve) January 12, 2026
Not just across party lines, but men of business also resonated with this thought. JPMorgan Chase CEO Jamie Dimon said, “Everyone we know believes in Fed independence.”
Powell claimed on Sunday night that the DOJ threatened a “criminal indictment” and sent grand jury subpoenas in response to his earlier Senate testimony regarding the continuing renovations of the central bank office buildings.
Powell made a clear connection between the investigation and Trump’s repeated complaints that the Fed was cutting interest rates too slowly.
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