ANI Washington 

US President Donald Trump has strongly criticised a Wall Street Journal (WSJ) report that claimed Treasury Secretary Scott Bessent had tried to stop him from firing Federal Reserve Chair Jerome Powell, The Hill reported.

In a post on Truth Social on Sunday, Trump called the story "typically untruthful" and said no one had to explain to him what impact firing Powell would have on financial markets. "The Wall Street Journal ran a typically untruthful story today by saying that Secretary of the Treasury, Scott Bessent, explained to me that firing Jerome 'Too Late' Powell, the Worst Federal Reserve Chairman in History, would be bad for the Market," Trump wrote.

"Nobody had to explain that to me. I know better than anybody what's good for the Market, and what's good for the U.S.A," he added. "If it weren't for me, the Market wouldn't be at Record Highs right now, it probably would have CRASHED! So, get your information CORRECT. People don't explain to me, I explain to them!" According to The Hill, Trump has been pushing to remove Powell over his handling of interest rates. However, legal experts believe the president does not have the direct authority to fire the Fed chair. News of Trump's efforts to do so has reportedly caused concern on Wall Street. The Federal Reserve, when contacted, said it had "nothing to share" on the matter, The Hill reported.

Meanwhile, Trump has also filed a defamation lawsuit against the WSJ. The legal action comes after the newspaper published a story that included a birthday message Trump had allegedly sent to Jeffrey Epstein, a convicted sex offender who died in jail in 2019.