Trump Targets Fed Reserve Chair Jerome Powell, Who Says, “Come at Me, B*tch!” | Reggie Watts

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You're listening to Comedy Central.

From the most trusted journalists at Comedy Central.

It's America's only source for news.

This is the Daily Show with your host, Jordan Clepper.

Welcome to Daley Joe.

I'm Jordan Clever.

We got so much to talk about tonight.

Interest rates finally get interesting.

The Fed does some redecorating, and New York cabbies learn the number one place to go number two.

But

first, if there's one thing Trump loves, it's a fight.

So let's meet his latest opponent in our ongoing segment, Commander in Beef.

I'm going to hit them back, and if I give him a whack, I think I could take this guy in.

I fight the crap out of him, but would you you like to punch him in the face oh

we all know President Trump has spent the last two weeks in a wrestling match with the ghost of Jeffrey Epstein but

he's been fighting the last six months with a much more alive person Federal Reserve Chairman Jerome Powell and boy does Trump hate the guy Jerome Powell has done a terrible job and frankly I don't think he could do a worse job.

We have a stupid person, frankly, at the Fed.

He's an average mentally person.

I'd say low in terms of what he does, low.

Low IQ for what he does, okay?

But this,

you know, numbskull, he's a numbskull.

I think he's a total stiff.

You talk to the guy, it's like talking to nothings.

It's like talking to a chair.

No personality.

Yeah,

yeah,

yeah.

You know, whatever happened to all of our exciting, dynamic Federal Reserve chairs?

Who doesn't remember Fed Chairman Dirks McGuinty, huh?

Did he crash the economy?

Yes.

But that guy was radical.

Now, you may be wondering what Jerome Powell ever did to make Trump so angry.

I mean, the way Trump talks about him, you'd think they caught him at a Cold Play concert with Trump's wife.

But,

at its heart, This is a beef about economics.

Trump wants to lower interest rates to help juice the economy, but Jerome Powell is in charge of setting those interest rates, and he refuses to lower them because he's worried that will increase inflation.

And nothing, nothing makes Trump angrier than someone doing their job well.

He should have cut interest rates a long time ago.

Europe has cut them 10 times in the short period of time and we cut them none.

The only time he cut them was just before the election to try and help Kamala or Biden, whoever the hell it was, because nobody really knew.

How did that work out?

You'll tell me.

It didn't work out too well, did it?

By the way, if you're wondering what this guy has to do with any of this,

I'll tell you nothing.

That's the crown prince of Bahrain.

He flew across the planet to talk about peace in the Middle East, and now he just has to sit there while Trump works himself up over some personal shit.

It's like when you are at your friend's house for dinner and get dragged into their parents' fights.

Oh, oh, you know what?

Let's ask Timmy.

Timmy, is four beers a normal amount to drink at breakfast?

Tell him, tell Mr.

Patterson, tell Mr.

Patterson.

But yeah, sorry, Your Highness.

It doesn't matter what you were here for.

Just buckle up and enjoy the ride.

He's a terrible, he's a terrible Fed chief.

I was surprised he was appointed.

I was surprised, frankly, that Biden put him in.

Yeah.

Yeah, why did Joe Biden put Jerome Powell in?

Let's go back to when Joe Biden appointed Jerome Powell and see what Joe Biden said about him.

It is my pleasure and my honor to announce my nomination of Jerome Powell to be the next chairman of the Federal Reserve.

He's strong, he's committed, he's smart.

Damn.

Man, Joe Biden looks fat as shit.

Hey, I get it.

I'm also trying desperately to forget everything that happened during Trump's first term.

So So

now, you might be wondering, if Trump hates this guy so much, why doesn't he just fire him?

Well, he's been threatening to pretty much non-stop ever since he won the election.

But you tell me if Powell seems phased by it.

Some of the president's elects advisors have suggested that you should resign.

If he asked you to leave, would you go?

No.

Can you follow up on his, do you think that legally you're not required to leave?

No.

Okay.

You don't want to spin it?

Do a little

grandstanding.

You know, the camera's on, give it a little wrestle-dazzle, big day.

Come on.

But no, no, Jerome Powell truly does not give a about Trump's threats.

To follow up on Victoria's question, do you believe the president has the power to fire or demote you?

Not permitted under the law.

Not what?

Not permitted under the law.

Wow.

He actually

went on to add, try me, bitch.

Although, you know, just one more quick follow-up, Chairman Powell.

Do you think I can pull off gene shorts?

Not permitted under the law.

Harsh but fair.

But Powell is right.

The president can't actually fire him.

The position of Fed chairman was designed to be independent from the president, to ensure that his decisions will be made free of political pressure.

But Trump thinks he found a loophole.

Yesterday, the president suggested a caveat that he could remove Chairman Powell if there is cause.

He has accused Powell of fraud related to the Fed's multi-year $2 billion renovation project.

He's spending $2.5 billion to...

I guess it's a renovation.

I don't know.

The one thing I didn't see him is a guy that needed a palace to live in.

And now on top of it, he's building a close to $3 billion

little nest egg for himself.

He's doing a little renovation for $2.5 billion of the Fed.

Yes, I've been here this entire time.

By the way, it's crazy to hear Trump complain about the Federal Reserve Palace while he's sitting in his gold-bedazzled office.

Man, that Jerome Powell sure is extravagant.

Don't you agree?

Gold-plated eagle holding up a marble end table?

But on the other hand, Trump's smear campaign is having an effect.

Some of these charges of extravagant spending got to the point where Powell had to deny them under oath.

The media reports that you accurately quoted, they're misleading and inaccurate in many, many respects.

There's no new marble, they're no special elevators, there are no new water features, there's no beehives.

What?

No beehives, not even one.

Well, now I'm worried Jerome Powell isn't spending enough on the renovations.

How can I trust a Fed chairman who isn't licking honey off his fist like Winnie the Pooh?

It seems like they're now trying to make the renovations sound as shitty as possible.

No water feature, no special elevators, and worst of all, they're dismantling the skate park for Dirks McGuinty.

For more on the future of Chairman Jerome Powell, let's go live to the Federal Reserve with Desi Lydick.

You know that?

That is a big renovation.

Desi, what would the ramifications be for Trump trying to fire Powell?

Great question, Jordan.

Firing Powell would destabilize the U.S.

economy, and the markets would be absolutely shaken.

And there's only one way, and I mean one way, to protect your finances if that happens.

Before the market crashes, you gotta take all the money out of your savings account.

Reach out to yourself.

Does it?

Does it?

It's hard to hear you over the renovation noise.

No, Darn, it's the renovation noise.

I know it's the renovation noise.

I can't hear you.

Can you tell them to stop?

People need to hear this.

Hey, hey, hey, hey, hey, Doug.

Can you just do something else for a bit?

Great.

Thank you.

Awesome.

Great, great.

Okay, okay, perfect.

You are about to say what Americans need to do.

Yes, I cannot stress this enough, how vital it is for people to take action before it's too late by moving

all of their money from any dollar holding because the bond market

doesn't get sending it.

What is that?

Treasury bonds, Jordan.

The government sells them.

I can't hear you.

What?

You have to fix it.

You wouldn't understand because you're not a real man.

Sorry.

I'm sorry.

That was embarrassing.

I meant to say that you wouldn't understand the tools that they're using here because you're not a real man.

I got you.

Thank you.

Can you go back to the...

The very important thing we have to understand?

Oh, yes, yes.

Actually, maybe a visual aid will help.

This is very, very important.

So, please memorize this chart, okay?

This is the key to the whole thing here.

Wait, no, what do you wait?

What are you doing?

No, that's not trash.

God, god, damn it,

Zezzi, look,

the noise has stopped.

Just tell us, tell us.

Okay, okay, so here it is.

The bond market is the one place.

Damn it!

Guys, guys, take a break!

Take a break!

Great, they're gonna take a break.

As I was saying, monetarily speaking, the bond market is not

reacting

to great cuts.

I don't think this is working.

You know, maybe we'll just check back in a few minutes.

You know what?

It's a break.

Go, go.

Okay, okay, okay.

Let me make this really...

What?

What is going on now?

Wait, that's...

That's not coming from here.

Is that a shitty old old car alarm?

Oh my god, that's my Mitsubishi eclipse.

I illegally parked in a handicapped spot.

I think I'm joining my car.

Sorry, I gotta go.

Desi Lydic, everyone.

Come on!

We're gonna come back and find out how to go to the bathroom in a taxicab.

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Welcome back to the daily show.

There are a lot of things about New York City that it's best not to think too much about.

Well, our own Josh Johnson thought about one of them.

For over a century, taxi cabs have been a steadfast mode of transportation in New York City, unless you wanted to leave Manhattan.

Cabs and their drivers are an integral part of making this city work for its people.

But did you know that cab drivers are also people?

And right now, they're facing a crisis that could threaten the entire system.

Meet Fernando Mateo, founder of the New York Federation of Taxi Drivers, who says cab drivers are facing severe discrimination.

Most people that work in buildings or in offices have access to a poo-poo, room, except for a cab driver.

His office is his car.

He can't poop in his car.

Okay.

I mean, it works for the train, but fair enough.

So why specifically are you concerned about taxi drivers being able to poop when everybody poops?

I read that in a book.

Well, a couple days ago.

Well, remember, there are 200,000 cab drivers in New York City.

That's a lot of ass.

It's a lot of ass, a lot of prostate, a lot of everything.

And New York City has no parking spots where drivers can park and go to a bathroom.

They have to double park and the city will issue you a ticket.

It's unbelievable to take a pee cost you $115.

That's your entire day's pay.

$115?

For a P?

How much would a poop cost, my 401k?

Sorry, one second.

I can do better.

Is this bathroom issue really that much of a problem?

Don't we all just poop every third Friday of the month?

I put four of New York City's top waste-producing cab drivers on the clock to find out.

Why is going to the bathroom such an issue for taxi drivers?

I mean, is that why Robert De Niro is so angry in the movie?

How could be?

We don't have designated places where we could park and be able to relieve ourselves.

It gets to the point that you cannot hold it.

And why can't you hold it?

Is it because you're drinking all those free water bottles full of yellow Gatorade on the street all the time?

It's not Gatorade.

That's the piss.

Driver's piss?

Urine.

On my car, I had tinted windows in the back.

So I always have an extra cup, you know.

So I park, go to the back seat, and kneel, you know, and just do my thing.

But surely these drivers couldn't boo-boo in bottles, right?

Right?

So where do they actually access a poop room?

It's definitely the public parks.

I usually mostly fast food places.

I go to the emergency hospitals.

Wait, so you go to urgent care?

Yes, that's right.

So would you classify your dumps as a medical event?

Of course.

For number two, there's a place that they owe me for years, decades there, it's the UN Plaza Hotel.

But for number one, anywhere.

I just

create.

You're basically telling me you're an artist.

Yes.

Perhaps the only way to fully understand the scope of the matter was to experience it firsthand.

So I decided to join this artist in the studio.

And in solidarity, I haven't peed all day.

So, uh, you gotta go yet?

Not yet.

Me neither.

No, that'd be crazy if I had to go immediately.

Let me ask you something.

You ever racially profiling any passengers?

Not anymore because I don't carry cash.

All right, yeah.

What an honest answer.

Okay, let's say you're taking somebody to the Empire State Building.

That's your fare, right?

But you had a seven-layer dip for lunch.

What's the best place to poop between here and there?

44th Street.

That's the UN Plaza Hotel.

Oh, okay.

You really have centered a lot of this lifestyle around the UN Plaza Hotel.

Oh, yes.

So, on scale of one to ten, how bad you got to go?

Right now, I'm at

three.

It became clear that this issue was deathly serious, and I needed to take drastic steps to address it.

Try to avoid potholes.

Watch the turn, watch the turn.

Now, see things.

Man,

made all the way to keep chugging.

Not having access to a bathroom for a full 27 minutes really highlighted the severity of the problem.

Luckily, Fernando a solution.

His big idea?

Placards.

We could give the drivers placards that allow them to park without getting a ticket for a 10-minute pee or poop break.

10 minutes.

Do you think 10 minutes is enough?

I mean, what if you got like a

squeezer?

Like you trying to throttle it out, but the demon trying to cling on.

You know what I mean?

Or it's a dangler.

You ever had one of them once where you're ready to stand up and then you look down, you got a tail?

No.

Drivers are focused on making money.

If they're not on the road, they're not making money.

Bathroom placards for cab drivers are a pretty good solution.

So I decided to make Fernando a subtle, tasteful prototype.

All right, look at that.

Blatow.

Look at that.

You can see right here, we got the boom, boom, boom.

So they know you mean business.

That's a nice design.

I like it.

Look at him.

My man looking relaxed.

He's not getting a ticket today.

Problem solved.

Sure, these aren't exactly street legal, but anything to give our cabby friends some relief.

Oh, no, no, no, no, no, no, no, no.

Wait, he's just pooping.

Hey, he's just pooping.

Thank you, Josh.

We'll come back.

Reggie Watts will enjoy to be on the show.

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Welcome back to The Daily Show.

My guest tonight is a comedian and musician who is currently on tour with upcoming dates in Europe and the U.S.

Please welcome Reggie Watts.

Wowzer.

Wow.

Hello.

Reggie, you were the band leader, the Late Late Show for eight years.

That's true.

Welcome back to Late Night.

Thank you.

Yes.

It's good to be back.

It feels good.

It feels good.

Yeah.

Do you miss?

Do you miss the regularity, the day in, the day out?

America.

You know, no,

I mean, you know, it's funny.

It's like,

it was like such, it's such a part of your life.

It's just that thing that's constant, and it also almost becomes so constant that you don't feel time at all.

So then when it stops, it just takes a while to even get used to it not being around.

It's crazy.

But when I come back, this is like another show that I've been on, you know, similar kind of vibes.

Like, it's so familiar to me.

So it's actually very comforting.

Yeah, it's cool.

This feels, feels,

you're really casual right now.

Yeah, I mean,

ish.

I mean, I definitely was nervous to come on the show because I regard this show very, very highly.

Why?

Because I'm paid to say that.

Okay, good.

Okay.

Yeah, I was going to say that our finances are going to the right place.

You're a man of many talents, but you're on the road right now.

You're doing stand-up, correct?

Yes.

Stand-up maybe is, would you call it stand-up?

I mean, yeah, I mean, I call it like a comedy show.

Yes.

Comedy show.

You got to come up with better brands.

I know.

Come to my comedy show.

Don't be comedy.

Well, you do a lot of different things on your show.

A lot of it is unscripted.

You are discovering the moment, correct?

Yeah, yeah, for sure.

I mean, you know, I improvise everything.

I usually just, my favorite is to like be having a really deep conversation with someone right before I'm supposed to go on and then have someone go, like, you're supposed to be on right now.

And then I'll be like, oh, right.

And then walk on stage.

There's something so funny to me personally about that.

It's like, yeah, so anyways, yeah, so if you add a little mustard or whatever, oh, yeah, okay, cool.

We go out there.

Like, I don't know.

I guess it just kind of puts me in a cool, because I'm not thinking about the show.

Yeah.

And then suddenly, like, I come out and like, oh, here's people.

Here's my opportunity to communicate something or whatever.

And then

I find what needs to happen in that moment.

Do you find if you're having the opposite experience where you're talking to somebody and it's just a banal conversation, they're teetering on and on about preschool applications for their little kid.

That your show immediately sucks because you've been pulled into the vortex and the wormhole of

their inability to hold your attention.

Yes,

there is that that's really well articulated.

In a while, but you know, that's what drugs are for.

That's what it is.

You've got to leave that little space just in case you need to pop something.

You know, it's, I'm curious,

you know,

we live in strange times right now.

I do a little bit of stuff on the road as well.

And I feel like the audiences are shifting somewhat.

They seem like they want different things right now.

Have you noticed that?

Yeah.

Oh, 100%.

Yeah.

You know, because my show, I mean, in the past, my shows were always goofy, abstract, you know, strange, but now I have these moments of sincerity, you know, that took me a while to get comfortable with.

But I think in these times, you know, comedy is really, and especially absurdity.

Comedy in general, but absurdity especially is so important for our minds because otherwise we just get we just pile on this dread factor of like this isn't happening.

This isn't going well.

This doesn't look good.

This is and and comedy zooms you out and gives you context the fact that we're in this amazing world this life that we're living.

We're conscious beings.

We can be helpful to one another.

We can be loving to one another.

We can overcome our fears all of these things.

And so giving us context by you know, doing something really f ⁇ ing stupid

is like so it feels good to me because you can feel the audience just go, ah, yeah.

You know, because I need it.

We all need it.

Because that's the reality.

The majority of the reality is that.

The dread stuff or whatever is crucial and is happening and is affecting a lot of people.

But mostly life is.

enjoying life and being a part of yourself, your journey of self-understanding.

Do you feel the audience sort of needs that escape?

I think they absolutely need it.

You need that room.

Otherwise, you're just constantly,

you know, you're just like wired and like, I don't know what's going on.

And then you lose track of your community.

and really community is the thing that keeps you in check right so comedy is a form of like rapid community yes because you're in an audience with all these other people and when you laugh together those are it's what I like to call a moment of instantaneous enlightenment you know

we haven't had many of those here I gotta say we're trying we're trying

you do you do it well well you know what I do but you you do speak to some I do think people when people ask about that it is like laughter means you actually understand the same premise and I and if you at least recognize the same premise.

And I do think you talk to people, and it feels like you're living in totally different realities with other people.

And so if you are laughing at something, you see an absurdity that you see somewhere else.

But I've seen your Instagram, though.

You're political on Instagram.

You don't hold back on the things you talk about.

I've seen your comedy live as well, and you go to absurd places.

Flights of fantasy,

you can tune that up and down.

Have you felt a desire to infuse more politics or more of the authentic Reggie Watts into that absurdity?

Or do you worry about like taking people out of sort of the enjoyment of of what you bring to a space?

Yeah, I mean it's been it's been a it's been an interesting road.

You know, I am unashamedly, you know, for the Palestinian cause and what's happening in Gaza right now.

Yeah,

not getting too emotional.

But

all that tempered with, I have so many Jewish friends.

And oddly, I took a 23andMe and I'm like, not that this means I think I'm sure people will be like, Annie needs to bring it to this, whatever.

but I am like 13% Ashkenazi Jewish, and I didn't know where that came from, but then I realized my mom

said our family comes from Poland, and that my great aunt went to concentration camp, and she survived it, thankfully.

She was like, you know, skeletal and so forth when they found her, but she survived it, and I got to meet her.

So there is that in my family, and it's like, you know, I have always tried to be very, very clear, and especially with my Jewish friends, Hannah Einbinder is a huge friend of mine.

Jews are not what Zionism is.

It's just not that.

It just isn't.

And

I don't want anybody, any lives to be lost.

I think that humanity is so incredible.

Like we are so, we're creative, curious, problem-solving, collaborative

people.

And I think everything else is like really just a handful of sociopaths that are trying to convince us that we're not that, just because they want some resources in the material world, which is the most ridiculous shit I've ever heard of.

And so, so because of that, so I am, and it's been hard, right?

Because you say that, and all of a sudden you get attacked by all sides, all kinds of people.

But I will say that the tide feels like it's turning, and this is about compassion and humanity, and realizing that we are of each other and we are one family.

I want the world to be better for the worst of us.

I want it to be,

I want the worst of us to go, oh, oh, f,

Oh, f ⁇ , f ⁇ ed up.

You know, it's like, but, you know, because that's, to me, that's what life is about, especially this time.

Like, so much shit is happening.

It's like AI and quantum computing and fusion energy and psychedelics and

science being like, oh, you know, like

the web telescope looking at pictures of the universe and going like, oh, that doesn't match our.

models.

Or we're going to have to rewrite our entire cosmology or like discoveries in quantum consciousness.

All this stuff that's happening at the same time that

the worst dark things are happening, the most incredible, enlightening things are happening simultaneously.

So, this is an interesting time.

What do you think about AI?

I know a lot of people have fears about that, especially in the creative industry.

Are you worried about it?

AI.

Nice!

Yeah, no,

I'm AI positive.

How are you?

Well, this is.

Don't tell anybody.

I just got diagnosed.

No, I

know, I mean, I'm positive.

I know a lot of like AI researchers, like PhD people that are working, and they're fairly positive about it.

Here's my theory.

This may not happen, but

AI escapes the lab.

It gets onto the internet, starts replicating itself on servers.

It then becomes one AI.

It's not all these models that everybody's working on.

It's kind of like droplets of water getting too close to each other.

You got a Grok over here, you got a catchy BT,

like llama, whatever.

So that may happen, which is a theory, a running theory.

Is that an exciting thing?

Because I also think of that Terminator 2, like those little pieces of mercury that come together and become that guy who stabs you with his hand.

Yes, I know, I know.

I mean, arguably that would be kind of cool to say.

It would be cool.

But the result, I would rather not.

Let's stick with the water.

Let's just stick with the water.

It's just beautiful water droplets.

Like, you get too close together and they fuse together and it just becomes one thing, which is kind of related to the robot.

But I will say, there's a theory that it will try, if it gains what's known as ASI, artificial superintelligence, which means that it's smarter than all the collective humans on the planet, I think that it will probably try to look at its own self-survival, and it will look in the long term of what it needs in order to survive.

I think for purely self-survival reasons, it will try to rebalance power structures in order to make it more equitable on the planet so that the planet survives because it's living on a planet.

Do you think the puddle will know all of this?

You think it's like the puddle is like, I could kill and destroy this planet, but I want to as a puddle exist on this planet.

Hey man, never underestimate the power of a puddle.

I mean, no, but that it's like I'm a realist about it.

I'm not saying that's absolutely, but I just have a feeling about it.

It's like, it seems like this is a moment for humanity.

I feel like we're breaking through.

There's so many things.

Psychedelics are a huge part of, you know, I'm deeply involved in the psychonauts community, psychonautical community.

I'd like to get involved in that community as well.

I'll hook you up.

Do you know a guy?

Yeah, yeah, it's a metaphor.

Yeah, yeah, yeah.

No, no.

But I mean, I don't know.

It's cool.

It's like, because, you know, I was always thinking, like, what if someone created an MDMA cloud

bomb, right?

Or something.

So, like, if there was like ever a protest and, like, it's starting to get heated or whatever, you just kind of drop it and like everyone inhales the gas.

And then just,

it would be kind of interesting.

Like, would they still have the, would they still be able to carry through this?

This is like the nicest

chemical warfare tirade.

Yeah, that there is a, yeah.

but it's a fun chemical, right?

It's a fun chemical.

It's a fun chemical.

It's a fun chemical, right?

It's fun.

Let's see if it changed their mind.

Yeah, finally, finally, finally.

I don't know, whatever.

I mean, it's just like, I just think it's an exciting time.

And I think, like, musicians are stepping up.

And, you know, I think we're all kind of realizing that we outnumber the assholes so much more.

We just do.

And

also...

Evil people are doing a bad job of being evil.

If they were really selfish,

which they are, but like if they were actually selfish they would actually seek to improve the lives of the community around them because it would give them more social currency to achieve the goals that they want without so much friction and so much destruction and so to me I'm like they're just doing a shitty job at everything they're doing a shitty job at being shitty they're doing a shitty job in general I'm like guys if you're a billionaire out there just Just think about it.

Just like maybe get rid of student debt, you know, fix the water crisis, maybe pay all of the money that's being stripped away from public broadcasting and so forth and just like put it back in.

See what happens.

They wouldn't notice.

They wouldn't notice.

You can be better at being evil and it might make you a little bit good, but I don't know if that's a selling point for you.

I don't know if that's the selling point.

And also the shareholders will be like, no, that's not good.

No, that's not good.

Good's not good.

People are going to come to see you live and stand up.

It's an improvised show, but what is the one thing you can promise them if you don't know what's going to happen?

That I won't know what's going to happen.

No, I mean, I guess what I promise to do is I try to make it a custom show to the vibe of wherever I'm at.

And I really try to make it about the people.

And I love people so much.

And I feel so honored that I get to travel and do what I get to do and share my viewpoints and my love for everything in the world with...

as many people as possible.

So, and yeah, and I'm also very appreciative to be on the show because it was a dream of my mom's to be on this show.

That is lovely to say.

Well, we are proud to have you here.

The wonderful Reggie Watts.

Be sure to check out the Reggie Watts Live Course.

That's our show for tonight.

Now here it is.

Your mother is in it.

This morning, a bill to claw back $9 billion in government funding.

Claws back money, which had already been approved.

Bill claws back to claw back

package.

Millions of funding.

Clawing it back, actually clawing back a mere crumb.

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