President Donald Trump just dropped a bombshell at a high-profile event, putting his own Treasury Secretary on notice over a brewing clash about the Federal Reserve's leadership.

At the U.S.-Saudi Investment Forum in Washington, Trump publicly chided Treasury Secretary Scott Bessent for backing Federal Reserve Chairman Jerome Powell, while also pushing economic priorities and unveiling a massive AI partnership with Saudi Arabia alongside tech giants.

This drama unfolded during a speech at the John F. Kennedy Center for the Performing Arts, following a black-tie dinner the previous evening honoring Saudi Crown Prince Mohammed bin Salman.

Trump's sharp warning to Bessent

Trump didn’t mince words when addressing Bessent’s apparent support for Powell, a figure he’s long criticized for high interest rates and sluggish inflation control.

“The only thing Scott’s blowing it on is the Fed, because the rates are too high, Scott, and if you don’t get it fixed fast, I’m going to fire your ass, OK,” Trump declared, drawing a line in the sand. Talk about a public dressing-down—though Bessent reportedly took it with a smile, one wonders if the humor masks real tension.

This marks the first time Trump has openly revealed Bessent’s stance on keeping Powell, a position that clearly grates on the president’s nerves.

Criticism of Powell intensifies

Trump’s frustration with Powell isn’t new—he’s repeatedly slammed the Fed chairman for what he sees as economic mismanagement, even calling him “grossly incompetent.”

It’s no secret that affordability remains a top concern for voters, and Trump hammered home the point that high rates and grocery costs are Powell’s fault. He’s not wrong to focus on kitchen-table issues; they resonate deeply with everyday Americans tired of progressive economic experiments.

Interestingly, Trump also touted recent wins, noting core inflation has dipped below 2.7% since he took office and Walmart slashed the price of a standard Thanksgiving meal by 25% compared to last year.

Strengthening ties with Saudi Arabia

Before the Fed fireworks, Trump hosted a bilateral meeting in the Oval Office with Crown Prince Mohammed bin Salman, praising him as a longtime friend and lauding his efforts on human rights.

“We have [an] extremely respected man in the Oval Office today, and a friend of mine for a long time,” Trump said of the Saudi leader. While some critics might raise eyebrows over past controversies, Trump’s focus on diplomacy and mutual benefit is a pragmatic move in a complex world.

At the forum, Trump highlighted a staggering trillion-dollar investment from the crown prince, alongside designating Saudi Arabia as a major non-NATO ally during the prior evening’s dinner.

Tech titans and AI ambitions

The event wasn’t just about politics—tech heavyweights like Elon Musk of xAI and Nvidia’s Jensen Huang took the stage, announcing a 500-megawatt AI project in collaboration with Saudi Arabia.

With Apple’s Tim Cook and soccer icon Cristiano Ronaldo also in attendance at related events, the forum showcased a blend of innovation and star power. It’s refreshing to see business and tech leaders driving progress, free from the usual woke posturing that often derails such initiatives.

Musk even mused about a future where “money will stop being relevant,” a bold vision that might just align with Trump’s push for transformative economic policies. While that day may be far off, these partnerships signal a commitment to staying ahead in a rapidly changing global landscape.