Hassett: Whether Trump Fires Powell Depends on the Fed's Response to Headquarters Renovation

BlockBeats News, July 13 — White House economic adviser Hassett stated that if there is supporting evidence, U.S. President Trump has the authority to dismiss Federal Reserve Chairman Powell, adding that the Federal Reserve bears significant responsibility for the cost overruns in the renovation of its Washington headquarters.

Hassett noted that any decision by Trump to attempt to remove Powell would largely depend on the Federal Reserve’s response regarding the headquarters renovation issue. Last week, White House Office of Management and Budget Director Vought criticized Powell for “lying” about the renovation of the Federal Reserve building. Trump has repeatedly said that Powell should resign because he has not lowered interest rates. (Jin10)