Trump calls Fed chairman 'numbskull' but suggests he's disinclined to fire him

President Donald Trump said Thursday he believes Federal Reserve Chairman Jerome Powell is a "numbskull" who has mismanaged monetary policy and his own headquarters' renovation, but suggested he would prefer not to fire him and instead leave him room to resign before his term ends.

"I'd love if he wants to resign," the president told the Just the News, No Noise television show in a wide-ranging interview to be aired Thursday night on Real America's Voice when asked whether he would fire the Fed chairman. "That would be up to him."

"They say it would disrupt the market if I did (fire him). But you know, there are many people who say he should be removed because of the fraud of what he's doing at the Fed, with regard to the $2.5 billion he's spending, $2.5 billion to, I guess it's a renovation. I don't know. I'm very good at that stuff. I should go look at it."

Trump was reacting to reports that Powell's renovation of his Washington headquarters has ballooned $700 million over budget to $2.5 billion.

"It's like one of the most expensive buildings in the world. He's putting all sorts of parks on the top of the building, and this that. And I guarantee the contractors are making a fortune. No, this is not a guy. This is a guy always recommended. He was recommended to me by (former Treasury Secretary) Mnuchin, and he never worked out good."

Trump said he agreed with comments made by former World Bank President David Malpass on the Just the News, No. Noise television show Wednesday that night that the Fed needs to be reimagined because its adverse to risk and economic growth.

"I think he's 100% right," Trump said. "This guy is getting in the way. Think of what, you know, we're talking about costs. He's talking about the cost of tariffs. If he lowered (interest rates) three points... if you would lower that. You know, Europe has had 10 lowerings In the last year and a half 10. We've had none with this guy. None.

"That puts us at a disadvantage," the president added. "Now, everything else is so strong. We're bullying through the rates, the high interest rates. The housing market would boom if this, you know, numbskull.  He's a numbskull. And if this guy would (lower rates) could you imagine?

The president repeatedly questioned Powell's judgement, saying at one point "he's always wrong."