President Donald Trump on Wednesday threatened to replace one of his cabinet members for “blowing it” when it came to lowering interest rates.

Trump has publicly feuded with Federal Reserve Chairman Jerome Powell over Powell’s reluctance to lower interest rates, which the president said is warranted to spur the economy.

The president said Treasury Secretary Scott Bessent should pressure Powell, whose term ends in May, into lowering rates.

“Scott, you gotta work on this guy. He’s got some real mental problems. There’s something wrong with him,” Trump said during the U.S.-Saudi Investment Forum at the Kennedy Center in Washington, D.C.

“I’d be honest — I’d love to fire his ass,” Trump said of Powell. “He should be fired. Guy’s grossly incompetent.”

Trump nominated Powell as Fed chairman

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