Trump Jokes About Suing Warsh if He Doesn't Lower Rates

President Trump used a closed-door Washington dinner to lampoon nearly everyone in the room — including his own Federal Reserve nominee — joking that he might sue Kevin Warsh if he doesn’t lower interest rates, The Wall Street Journal reports.

Trump delivered a roast-style speech Saturday night at the Alfalfa Club’s annual black-tie dinner, a traditional gathering of business leaders and Washington elites.

Spotting Chief Justice John Roberts in the audience, Trump said he couldn’t make jokes about him because he needed to “kiss his ass,” attendees said.

Warsh, whom Trump formally nominated Friday to succeed Federal Reserve Chair Jerome Powell, was another target.

Trump joked that he chose Warsh because he looked like he was “straight from central casting” — and teased that legal action might follow if rates didn’t come down.

Asked later aboard Air Force One about the remarks, Trump brushed them off.

“It’s a roast,” the president said, adding that he hadn’t demanded any concessions from Warsh in exchange for the nomination. “I could have done that I guess if I wanted, but I didn’t.”

Warsh, if confirmed, is expected to operate independently of the White House.

Trump’s decision to tap him followed weeks of criticism of Powell, whom the president has repeatedly attacked for not cutting interest rates more aggressively. Powell’s term as chair expires in mid-May.

Trump’s speech ranged widely. He joked about fellow dinner guests, including former Sen. Mitt Romney, whom he called a left-winger — drawing applause from the crowd — and noted that he had recently spoken with former rival Jeb Bush.

“He’s been very nice to me the last six months,” Trump said of Bush.

At one point, Trump also touched on foreign policy, telling attendees he might bomb Iran again, according to people in the room. “They’re talking to us,” Trump later told reporters. “A lot of things could happen.”

Warsh previously served on the Fed’s board from 2006 to 2011 and played a behind-the-scenes role during the financial crisis.

The Fed has cut rates three times over the past year but held them steady this week at a range of 3.5% to 3.75%.

Trump has said he wants rates closer to 1% and has publicly lashed out at Powell, calling him a “moron” after the latest decision.

The White House did not immediately confirm details of the dinner remarks.