“The president and his team will continue to look into this issue,” Kevin Hassett, director of the National Economic Commission, told reporters when asked about the firing of the head of the central bank.
The U.S. president has no power to fire the Fed governor directly, but Trump can try to get Powell to cancel Powell by demonstrating that there is a “reason” to do so.
Trump has frequently criticized the Fed chairman, who initially nominated in his first term, accusing Powell of playing politics.
Powell warned Wednesday that Trump’s massive tariffs could push up prices and limit economic growth and could give the Fed an enviable position to choose between inflation and unemployment.
On Thursday, the Republican president insisted that he could force Powell. “I’m not happy with him. I let him know that if I want him out, he’ll leave there soon, believe me,” Trump said.
