Recently, White House economic adviser Kevin Hassett indicated that President Trump is considering the feasibility of firing Federal Reserve Chair Jerome Powell. This development follows Trump's ongoing criticism of Powell, accusing him of political bias due to his decisions on interest rates. Hassett emphasized the need for further legal analysis to evaluate this potential action, noting his previous concerns regarding the implications of such a decision on market credibility and stability. Trump's authority to remove Powell is under scrutiny, especially in light of a Supreme Court case that could set a precedent for executive power in such matters.
"The president and his team are looking into whether it is feasible to fire Federal Reserve Chair Jerome Powell," said economic adviser Kevin Hassett.
Hassett expressed hesitance about the idea of firing Powell, saying, 'At that time, the market was a completely different place... if there's new legal analysis that says something different, then we need to rethink our response.'
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