Fed chair drops surprising rate cut hint as Trump calls him 'average mentally person' originally appeared on TheStreet .
President Donald Trump said that he knew three or four individuals among whom he will pick the next Federal Reserve chair.
Referring to the current Fed Chair Jerome Powell , Trump said, "He is an average mentally person. I'd say low IQ for what he does."
The president was talking to reporters at the NATO summit in the Netherlands on June 25 when he made the remarks. He also said Powell will leave "pretty soon fortunately" because he thinks the Fed chair is "terrible." He added:
"We have no inflation. We have tremendous economy. Hundreds of billions of dollars of tariff money is pouring in. Factories are being built ... I think we are close to $15 trillion of investment money coming in."
The total crypto market cap stood at $3.29 trillion at the time of writing, up 0.93% a day. As per Kraken , Bitcoin was trading at $107,380.25, up 2% a day. Meanwhile, Ethereum was trading at $2,414.25, down 1.26% a day.
Join the discussion with Scott Melker on the Roundtable here .
Trump has been very critical of Powell for not lowering interest rates, but the Fed Chair has not given in to the president's threats.
However, Powell said that future trade deals between the U.S. and other countries could potentially allow the central bank to consider slashing interest rates. He added that settling on the final tariff rates would reduce uncertainty, saying he believes "that's the path we are on."
Powell made the remarks during the semi-annual testimony on monetary policy before Congress on June 25.
The next Federal Open Market Committee (FOMC) meeting is scheduled to be held on July 29-30.
If the central bank lowers interest rates, a substantial inflow of funds into the crypto market is anticipated. Once insulated from traditional markets, the crypto markets now react sharply to the Fed's moves.
Fed chair drops surprising rate cut hint as Trump calls him 'average mentally person' first appeared on TheStreet on Jun 25, 2025
This story was originally reported by TheStreet on Jun 25, 2025, where it first appeared.
