Washington:
US President Donald Trump and his administration are studying whether it is an alternative to dismissing independent Federal Reserve Chief Jerome Powell, his top White House’s economic colleague said on Friday.
“The President and his team will continue to study the matter,” told reporters, Director of the National Economic Council, Kevin Haset told reporters.
The US President does not have a direct right to firing the Federal Reserve Governors, but Trump may begin a long process to try to ignore Powell by proving “cause” to do so.
Trump has often criticized the Fed Chairman, which he originally nominated during his first term, accusing Powell of playing politics.
Powell on Wednesday warned that Trump’s widespread tariffs are likely to increase prices and disrupt economic growth, and could put the fed in an unqualified position to choose between inflation and unemployment.
On Thursday, the Republican President insisted that he could get Powell out.
Trump said, “I am not happy with him. I told him this and if I want him, he will get out of there, I believe,” said Trump.
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