Trump to NBC's Welker: 'This Is Such a Dishonest Interview'; on a Third Term: 'This Is Not Something I'm Looking to Do' (May 4, 2025)

When NBC’s Kristen Welker said prices were going up under his tariffs, President Donald Trump stopped her. “Wait, whoa, whoa, whoa,” Trump said. “Whoa, whoa. This is such a dishonest interview already,” he said on NBC’s Meet the Press, according to the transcript of the interview, released May 4, 2025, and published by the American Presidency Project [1].

“Prices are down on groceries. Prices are down for oil. Prices are down for all energy. Prices are down at tremendous numbers for gasoline,” Trump said [1].

The video above shows Trump’s interview with NBC’s Meet the Press, broadcast May 4, 2025. Quotes are from the American Presidency Project and the Federal Reserve [1][2].

”You Just Need a New President”

Welker began with his first 100 days. “Well, I think we’re going to see a lot of results. We’ve already seen them. On the border, we have the best border in the history of our country,” Trump said [1].

“In fact, Biden, if you remember, said he has to get legislation. And I said, ‘No, you just need a new president.’ And I guess I was right. We have the best border we’ve ever had,” he said [1].

”He Spent Like a Stupid Person”

Trump blamed the Biden years for inflation. “And let me tell you, when you have—the big thing, what he did, he spent like a stupid person, which he was. But he spent like a very stupid person. And that was bad for inflation,” he said [1].

“But what really killed us with inflation was the price of energy. It went up to $3.90, even $4. And in California, $5 and $6. Right?” Trump said [1].

“Energy is 60% of the cost,” he said when Welker listed tires and strollers [1].

”The Greatest Economy in History”

Welker asked whether he would accept a recession to reach his long-term goals. “Well, you know, you say some people on Wall Street say, well, I’ll tell you something else. Some people on Wall Street say that we’re going to have the greatest economy in history. Why don’t you talk about them?” Trump answered [1].

“Remember this. Look, yeah. Everything’s okay. What we are—I said, this is a transition period. I think we’re going to do fantastically,” he said [1].

He also defended the tariffs on China. “I think tariffs are going to be great for us because it’s going to make us rich,” Trump said. “We had a trade deficit of hundreds of billions of dollars with China.” [1]

“He Should Lower Interest Rates”

Trump pressed the Federal Reserve. “But he should lower interest rates,” he said of Fed Chairman Jerome Powell [1].

Asked if he would remove Powell before his term ended, Trump said: “No, no, no. That was a total—why would I do that? I get to replace the person in another short period of time.” [1]

Asked whether moving National Security Advisor Mike Waltz to the United Nations was a punishment, Trump said no. “I think he’ll do a very good job—knows the countries, knows leadership,” he said of Waltz. Of Secretary of State Marco Rubio, filling in, he said: “Marco’s doing an outstanding job.” [1]

“This Is Not Something I’m Looking to Do”

Welker asked about “Trump 2028” hats and a third term. “I will say this. So many people want me to do it. I have never had requests so strong as that. But it’s something that, to the best of my knowledge, you’re not allowed to do,” Trump said [1].

“But this is not something I’m looking to do. I’m looking to have four great years and turn it over to somebody, ideally a great Republican, a great Republican to carry it forward,” he said [1].

“That’s because they like the job I’m doing, and it’s a compliment. It’s really a great compliment,” Trump said of allies who talked about it [1].

Asked whether he would rule out military force to take Canada, Trump said: “I don’t see it with Canada. I just don’t see it, I have to be honest with you.” [1]

“And by the way, Canada, they spend less money on military than practically any nation in the world. They pay NATO less than any nation,” he said. “But the truth is, they don’t carry their full share, and it’s unfair to the United States and our taxpayers.” [1]

On Greenland, he said: “I don’t rule it out. I don’t say I’m going to do it, but I don’t rule out anything.” He added: “We need–we need Greenland very badly.” [1]

“Investigated More Than Al Capone”

Asked about his orders on critics, Trump said: “I have been investigated more than any person in the history of the United States of America. I’ve been investigated more than the late great, as they say at my rallies, Alphonse Capone.” [1]

On money, he said: “I contribute my entire salary to the government, back to the government. And I’m doing it again.” [1]

Asked if the MAGA movement could survive without him, Trump said yes. “You look at Marco, you look at JD Vance, who’s fantastic,” he said [1].

“I took—unlike all other presidents, I took cognitive tests and I aced it. I got 100% correct,” Trump said of his physical. “I’ll be an eight-year president, I’ll be a two-term president.” [1]

By the Numbers

$3.90 to $4: what gas reached under Biden, per Trump [1].
$5 and $6: gas in California, per Trump [1].
60 percent: energy’s share of costs, per Trump [1].
1/4 point: the Fed’s September rate cut [2].

What Happened Next

The Fed cut rates. On Sept. 17, 2025, the Federal Reserve’s rate-setting committee “decided to lower the target range for the federal funds rate by 1/4 percentage point to 4 to 4‑1/4 percent,” its statement said [2].

“The Committee is attentive to the risks to both sides of its dual mandate and judges that downside risks to employment have risen,” the statement said [2].

For Trump with Canada’s prime minister two days later, see HYGO News’ page on May 6, 2025. For Trump’s 100-day remarks the week before, see the page on April 29, 2025.