Discussion surrounding the potential dismissal of Federal Reserve Chair Jerome Powell took center stage as it was addressed by White House economic adviser Kevin Hassett. In response to inquiries, Hassett indicated that President Donald Trump and his team are evaluating the situation thoroughly. This consideration emerges amidst ongoing tensions, as the President has increased criticism toward the Fed Chair, accusing him of political maneuvering due to his reluctance to lower interest rates.
Hassett’s comments were made at the White House, a day subsequent to President Trump’s assertion that he possesses the authority to rapidly remove Powell from his position. This development underscores the continuing friction between the President and the Federal Reserve, highlighting the administration’s focus on economic policies and their implementation.