CNN host Jake Tapper was shocked at President Donald Trump's new claims regarding Federal Reserve Chairman Jerome Powell.
On Wednesday, Trump told reporters that Powell is a "terrible Fed chair" and that he is "surprised [Powell] was appointed." Those comments didn't sit well with Tapper, who responded to them on his daily show, "The Lead With Jake Tapper."
"For the record, it was President Trump who elevated Jerome Powell to Federal Reserve Chair," Tapper explained. "He's the one who put him in there."
Powell was appointed in November 2017 during Trump's first administration, even though Trump claimed that Biden "put him in there" and then reappointed Powell.
Federal Reserve chairs serve four-year terms. They can be reappointed only once. Powell's current term is set to expire in May 2026.
Trump has teased firing Powell for weeks because of his reluctance to lower interest rates. In recent weeks, Trump has escalated his public attacks against Powell, going so far as to call him "stupid" for not lowering interest rates.
Powell has claimed that he can't lower interest rates yet because Trump's tariff policies have injected feelings of uncertainty into the global markets.
Tapper said Trump sounded "confused" when he made those comments, and made an effort to remind the president of his actions.
"You appointed him!" Tapper shouted as if Trump could hear him from the studio. "Does he really not remember that?"
