US President Donald Trump blasted The Wall Street Journal‘s report that claimed Treasury Secretary Scott Bessent had privately advised him against firing Federal Reserve Chair Jerome Powell.

In a lengthy post on Truth Social on Sunday, Trump criticised the report, calling it “typically untruthful” and insisted that no one had to tell him about the risks of removing Powell. “I know better than anybody what’s good for the Market, and what’s good for the USA,” Trump wrote. “People don’t explain to me, I explain to them!”

The WSJ report, quoting unnamed sources, said that Bessent had warned Trump about the possible legal, political, and market consequences of firing Powell before his term ends in May 2026. According to the report, Bessent highlighted that Powell could sue if he’s removed early, and that the court case could drag on until his term ends anyway.

The report also claimed Bessent said there’s no need to remove Powell, as the economy is doing well and the Federal Reserve might already cut interest rates twice this year.

TENSIONS AROUND THE FED

This isn’t the first time Trump has publicly clashed with The WSJ. Earlier, he threatened legal action against the journal after it published a sensational report detailing an alleged off-color letter he supposedly wrote to the late convicted sex offender Jeffrey Epstein, which featured a drawing of a naked woman and a suggestive massage.

The letter reportedly featured a drawing of a woman’s breasts, with Trump’s signature placed in the area representing pubic hair, and was surrounded by several lines of typewritten text, the newspaper said after reviewing its contents.

As president, Trump has also been criticising the Fed chair for not cutting interest rates fast enough. Recent reports claimed Trump wants more influence over the Federal Reserve, including appointing a successor who aligns with his economic views.

The WSJ report also claimed Trump is already working on a transition plan at the Fed. Powell’s term as chair ends in May 2026, and Fed Governor Adriana Kugler’s term ends in January, giving Trump an opportunity to nominate new officials. According to the article, Kevin Hassett, a former senior economic adviser, is seen as a potential replacement.

I BUILT THE MARKET, SAYS TRUMP

In his Sunday response, Trump took credit for the strong stock market and dismissed the idea that others had to guide him. “If it weren’t for me, the Market wouldn’t be at Record Highs right now, it probably would have CRASHED!” he wrote.

The US president has often claimed that lowering rates would ease the federal debt burden and help the economy grow faster. However, Trump had previously told reporters he wasn’t planning to fire Powell.

– Ends

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