White House trade czar Peter Navarro on Wednesday called Federal Reserve Board Chair Jerome Powell the “worst Fed chair in history” at the Hill Nation Summit.
“All I want is a Fed chair who understands how economies work, and Powell ain’t that,” he said. “We’re in the endgame now for Powell.”
Navarro avoided explicitly calling for Powell’s ouster, dodging a question on whether he thought Trump economic advisor Kevin Hassett could be the next chair. He also demurred on whether Powell could be fired.
Live coverage: Navarro says Powell is ‘worst Fed chair in history’ at Hill Nation Summit
Trump has spent months attacking Powell, whom he appointed to a 10-year term during his first stint in the Oval Office, expressing frustration that the Fed has not lowered interest rates to his liking.
The White House also began probing the Fed’s planned renovations to its offices over what it calls excessive costs.
Navarro on Wednesday also said the Federal Reserve board had become polarized.
“The problem with the Fed now is that it’s too politicized, because a lot of folks on the board are Democrats who hate Trump,” he said.
Trump has said recently that he wants the Fed to lower interest rates, which could help tamp down inflation as he pursues aggressive tariff policies. The board has historically been expected to make decisions on the interest rate without political input.
