Fed, Trump and Hassett
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WASHINGTON, July 13 (Reuters) - U.S. President Donald Trump has the authority to fire Federal Reserve Chair Jerome Powell for cause if evidence supports that, White House economic adviser Kevin Hassett said on Sunday and that the Fed "has a lot to answer for" on renovation cost overruns at its Washington headquarters.
In an interview with ABC News, Kevin Hassett was also pressed about the president's decision to hit imports from Brazil with steep tariffs.
Kevin Hassett has emerged as a serious contender to succeed Jerome Powell, posing a possible threat to Kevin Warsh, an early favorite for the post.
U.S. President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell even as he unleashed a fresh round of criticism against the central bank chief for not lowering interest rates and declined to completely reject the possibility of ousting him.
2don MSN
National Economic Council Director Kevin Hassett joins ‘Squawk Box’ to discuss President Trump's recent tariff announcement on Europe and Mexico, his views on the work of Fed Chair Jerome Powell, and more.