Trump calls Fed Chair Powell 'incompetent or crooked' amid DOJ investigation

President Trump escalated his attacks on Federal Reserve Chair Jerome Powell, calling him "either incompetent or he's crooked" in remarks to reporters before departing the White House for Detroit. The comments came after Powell disclosed he was under a Justice Department criminal investigation related to cost overruns on the Fed's headquarters renovation. In a CBS Evening News interview that aired Tuesday night, Trump repeated the accusation, saying Powell is "either corrupt or incompetent." During an economic speech at the Detroit Economic Club, Trump referred to Powell as "that jerk" and predicted he would "be gone soon." The attacks represent a significant escalation in Trump's long-running campaign against the Fed chair, whom he appointed in 2018, and raise concerns about presidential interference with central bank independence. Central bankers from around the world issued a statement of solidarity with Powell in response.

"Either he's incompetent or he's crooked. I don't know what he is." — Remarks to reporters before departing the White House for Detroit