Internet reports that Trump said he did not plan to fire Federal Reserve Chairman Powell, but called him an "idiot" because he did not cut interest rates. Speaking at a White House event on Thursday, Trump said a 200 basis point rate cut could save the United States $600 billion a year. "We spend $600 billion a year just because a 'idiot' sits here and says,'I don't see enough reason to cut rates now,'"Trump said. Trump added that if inflation rises, he would agree with the Fed to raise interest rates,"but now that inflation is falling, I may have to do something."