O'Leary: Trump not going to fire Powell

“Shark Tank” investor Kevin O’Leary suggested Monday that President Trump will not oust Federal Reserve Chair Jerome Powell, whom the president has heavily criticized in recent days after the central bank decided to hold interest rates steady last month.

“You don't want to whack the Fed. That's a really bad idea," O'Leary said on NewsNation's "The Hill" in an interview Monday night. "You want the Fed and the executive to be working together. You know, that's the markets want an independent fed."

"The whole world wants an independent Fed. The Fed maintains the debt market too," he continued. "You gotta remember, you don't want those bonds going wonky."

The Canadian businessman added, "Powell has been great. Trump's not going to fire him. This, this too will pass. Look for the signal, not the noise."

His remarks come as pressure rises between Trump and the Fed chair. The president has repeatedly slammed Powell for not cutting down interest rates as the economic sentiment waivers in light of the administration's sweeping tariff agenda, describing the investment banker as “a major loser.” 

“There can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” Trump said in a post on Truth Social. 

O'Leary has been a major defender of Trump's latest tariffs, particularly those on China.

In the interview, the investor said Trump and Chinese President Xi Jinping are “playing a game of chicken.” 

“This China stuff is getting crazy, but I like the fact that [Trump is] squeezing this deal … we’ve got to resolve it’s not about trade anymore with China,” O'Leary said.

“It’s IP rights. It’s access to their markets,” he added. “It’s Chinese companies trading money on the American markets. China is so different than the rest of the trade stuff.”

On Monday, he doubled down on his wish to impose a 400 percent tariff on Chinese imports coming into the U.S.

“Do what I wanna do. 400 percent. Stall everything on the water. Make everybody wake up and say ‘oh wow.’ You know, you gotta be bombastic about this stuff. Xi and Trump — it’s a game of chicken, two cars coming towards each other, they’re going to have to resolve it,” the “Shark Tank” star said.

“I like 400, you know why? It rolls off the lips,” he added. “400 percent tariffs… 400…I've always liked that.”