US Federal Bank President Jerome Powell is a “fool” who has kept interest rates at very high levels, but will leave in eight months, US President Donald Trump said at a press conference on Tuesday.

“I think he has done a bad job, but he will leave soon. He is gone in eight months, “he said at a White House meeting with Philippine President Ferdinand Markos Junior.

Question marks from Trump’s statement

Powell’s term as President of the Fed expires on May 15 and has repeatedly stated that he will not leave his post earlier. Eight months, however, it is until mid -March and it was not clear why Trump chose this time.

Trump has been attacking Powell for months because he does not reduce interest rates and has often referred to the possibility of removing him, while at the same time saying that his dismissal is “unlikely”.

On Tuesday, Trump reiterated his view that interest rates should be 3 percentage points lower than the current.

The Federal Central Bank meets next week and almost everyone expects it to maintain the policy interest rate on the current range of 4.25%-4.50%.

“Our economy is so powerful now that it goes beyond everything. We break a record, “Trump said. “But do you know something? People can’t buy a house because this guy is a fool. He keeps interest rates very high, and he probably does it for political reasons, “he said.

Finance Minister Scott Bessed, at the same meeting, turned his attention to the federal bank for her non -monetary activities, again seeking a major internal research. White house officials have recently raised questions about the renovation of two Federal Bank buildings in Washington, worth $ 2.5 billion, which they consider unjustifiably luxurious.

“The Fed has gone out of its mission and there is a lot of expenses going there,” Bessed said.

The Federal Bank argues that the buildings had serious safety and efficiency problems that had to be addressed.