President Donald Trump on Wednesday threatened to replace one of his cabinet members for “blowing it” when it came to lowering interest rates. Trump has publicly feuded with Federal Reserve Chairman Jerome Powell over Powell’s reluctance to lower interest rates, which the president said is warranted to spur the economy.

This marks the first time the president has disclosed that Bessent has pushed for Fed Chairman Jerome Powell not to lose his job.

Trump then said that gay Treasury Secretary Scott Bessent is preventing him from firing Powell, but then added that he’d fire Bessent if the matter doesn’t approve, CNBC reported. It’s unclear if Trump was serious.

Treasury Secretary Scott Bessent tried taking his flattery to new heights Tuesday—by pitching a demotion for President Donald Trump. Bessent, 63, told Bret Baier on Fox News’ Special Report that he was officially out of the running to replace Jerome Powell as Federal Reserve chair,