Trump Looking Into Firing Powell, Kevin Hassett Says

The president has criticized Powell for not bringing down interest rates, arguing lowering rates would save ‘trillions of dollars in interest cost’ on debts.

National Economic Council Director Kevin Hassett speaks next to President Donald Trump in the Oval Office in Washington on March 7, 2025. Leah Millis/File Photo/Reuters

President Donald Trump is looking at removing Federal Reserve Chair Jerome Powell from the post, Kevin Hassett, director of the National Economic Council, said in a July 13 interview with ABC News.

When asked whether the president had the authority to fire the Fed chair, Hassett replied: “That’s a thing that’s being looked into. But certainly, if there’s cause, he does.”