A top White House economic adviser said that U.S. Federal Reserve Chairman Jerome Powell would not be losing his job due to the recent stock-market plunge. President Donald Trump had reportedly considered ousting Powell for raising interest rates, which he blamed for the recent tumble.
Kevin Hassett, the current chairman of the Council of Economic Advisers, told reporters Dec. 26 that Powell’s job was “100 percent” safe. It’s unclear if the president can legally dismiss Powell.
