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National Economic Council Director Kevin Hassett commented the White House is looking into whether it has the authority to fire Federal Reserve Chair Jerome Powell President Donald Trump has stated that he does not want to fire Powell but Hassett s comments suggest that top administration representatives are still considering the possibility The Trump administration has zeroed in on the Fed s billion renovation project as a workable cause for removing Powell National Economic Council Director Kevin Hassett disclosed Sunday that whether the Trump administration has the authority to fire Federal Reserve Chair Jerome Powell is being looked into But certainly if there s cause he does Hassett explained on ABC News This Week of Trump s authority to remove Powell before his term is up next spring President Donald Trump has noted that he does not want to fire Powell but Hassett s comments suggest the White House is still considering and potentially moving towards the possibility Top Trump administration representatives have escalated their criticisms of Powell in up-to-date days in particular by targeting the Federal Reserve s billion renovation project which Hassett disclosed has gone over budget by million Taxpayers are not paying for the renovations The Fed is self-funded through interest it makes on securities held by the institution and through fees charged to banks Hassett Trump certainly can fire Fed chair Powell if there s cause Trump threatens to revoke comedian Rosie O Donnell s citizenshipFederal Reserve quietly responds to Trump administration attacks over renovationWorld leaders respond to latest Trump tariff threats against the EU and MexicoTrump announces tariffs on EU and Mexico starting Aug U S tariffs take center stage but China and the EU are quietly clashingTrump Brazil tariff cites same urgency powers facing court challengeWhite House accuses Powell of mismanaging Federal Reserve citing headquarters renovationTrump names Transportation Secretary Duffy as interim NASA administratorBishop of major Catholic diocese exempts parishioners from Mass over fears of ICE raids Office of Management and Budget Director Russell Vought last week accused Powell of having grossly mismanaged the Fed and mentioned he would seek an scrutiny into the ongoing project to renovate the Fed s headquarters Vought s remarks suggested that the Trump administration may be laying the groundwork to find a cause to remove Powell a frequent target of the Trump administration before his term is up In an escalation Vought sent a list of questions to Powell last week demanding answers about the renovation project Hassett on Sunday disclosed the answers to Vought s questions may determine how the administration proceeds I think that whether the president decides to push down that road or not is going to depend a lot on the answers that we get to the questions that Russ Vought sent to the Fed he explained The Federal Reserve quietly rebutted multiple of Vought s questions last week with an updated webpage on the Fed website that addresses particular of the questions No new VIP dining rooms are being constructed as part of the project the FAQs page on the website states directly responding to one of Vought s questions The webpage was posted on Friday the same day that Vought declared on CNBC that a probe was warranted over Powell s management of the renovation project While Trump suggested as in recent months as Friday that he does not want to fire Powell he has disclosed in contemporary weeks that he has a inadequate people in mind for the post for when Powell s term expires next May Hassett is reportedly a top contender to replace Powell One other practicable contender is former Fed Governor Kevin Warsh according to The Wall Street Journal Warsh was on Fox News Mornings with Maria on Sunday appearing to subtly pitch himself for the position He called the renovation project outrageous and reported that the Fed has lost its way It s lost lost its way in supervision it s lost its way in monetary plan and all this big money on big fancy buildings is just another indication he mentioned
