Donald Trump ranted against the current Federal Reserve Chairman and seemed to forget that he appointed Jerome Powell during his first term as president.
“He’s a terrible Fed chair,” Trump told reporters. “I’m surprised he was appointed. I was surprised frankly that Biden put him in and extended him.”
Related
Lauren Boebert viciously mocked for suggesting “the dumbest” plan for the Epstein files
“Bwhahahaha! You’ve gotta be crazy. Oh, wait. You are.”
Former President Joe Biden renominated Powell in 2021, but it was indeed Trump who selected him for the role in 2017.
Insights for the LGBTQ+ community
Subscribe to our briefing for insights into how politics impacts the LGBTQ+ community and more.
Subscribe to our Newsletter today
Rumors have been swirling that Trump is planning to fire Powell, which he lacks the authority to do. Experts say this would cause mass chaos in the markets, but Trump recently claimed to reporters that he’s not planning to do so: “I don’t rule out anything… but I think it’s highly unlikely, unless he has to leave for fraud.”
Trump’s confusion over who appointed Powell comes as evidence of his mental decline continues to mount. MSNBC pointed out that the comment occurred only one day after he claimed he and his uncle, former MIT professor John Trump, had talked at length about how John Trump had taught the “Unabomber,” Ted Kaczynski. Kaczynski, however, was not caught or identified until over 10 years after John Trump died, and he also never attended MIT.
There have been other incidents of his failing to answer the right questions.
Last month, Rick Wilson, co-founder of the Lincoln Project political action committee, speculated to the Economic Times that Trump may not even be able to finish out his term due to this mental decline.
“He is incoherent. His inability to articulate any thought or position without constant asides, constant lapses, the verbal aphasias he is experiencing at various points.”
“The man you’re watching today is not the Trump of 2015,” Wilson said, “nor is he the Trump of 2020, he’s not even the Trump of 2024.”
Many on X expressed deep concern over Trump’s confusion about Powell and also called out reporters for not correcting him in the moment.
Trump forgetting he appointed Powell isn’t just a gaffe—it’s a glimpse into the chaos. His entire MAGA agenda is built on economic ignorance and brazen hypocrisy. He demanded rate cuts while ignoring global markets, then blamed others when his own policies failed. Classic Trump:…
— Peter (@_e_tto_) July 16, 2025
Amazing. Truly amazing.
— Stephen Richer (@stephen_richer) July 17, 2025
To go on a 2 minute rant about a prominent official without even bothering to check to Wikipedia…
… to find out YOU appointed him. https://t.co/ZHc5ru2ibh
And did any reporter respond by reminding Trump that he had appointed Powell? Why does Trump always get a free pass?
— Lance Whitney (@lancewhit) July 16, 2025
If Trump makes such big mistakes on details like this related to him, imagine how many other mistakes he makes on a day to day basis and what the implications are for major policy issues like tariffs. We're only half a year in to a four year term folks.
— Rian Davis (@RianAuthor) July 17, 2025
Wait @Thiss_Youu:https://t.co/0g0bOVNv93
— Samir (@heysamir_) July 17, 2025
This statement alone should trigger the mental incapacity clause and be grounds to remove him immediately
— Manu (@DailyDoseofManu) July 16, 2025
Subscribe to the LGBTQ Nation newsletter and be the first to know about the latest headlines shaping LGBTQ+ communities worldwide.