Hasset: Whether Trump Fires Powell or Not, Fed's Response to Headquarters Renovation Is Key

On July 13th, White House economic advisor Hassett stated that if there is evidence to support it, U.S. President Trump has the right to fire Federal Reserve Chairman Powell, adding that the Fed "bears a lot of responsibility" for the excessive renovation costs at its Washington headquarters.

Hassett said that any decision by Trump to try to fire Powell would largely depend on the Fed's response to the headquarters renovation issue. White House Office of Management and Budget Director Vought criticized Powell last week for "lying" about the Fed building renovation. Trump has repeatedly stated that Powell should resign because he did not lower interest rates. (FXStreet) [BlockBeats News]