Hassett: Whether Trump fires Powell or not, the Fed's response to the headquarters renovation is key.

On July 13, White House economic advisor Hassett stated that if there is evidence to support it, President Trump has the authority to fire Fed Chairman Powell, adding that the Fed is "largely responsible" for the cost overruns on the renovations at its Washington headquarters. Hassett indicated that any decision by Trump to attempt to fire Powell would largely depend on the Fed's response to the renovation issue. White House Office of Management and Budget Director Mulvaney criticized Powell last week for "lying" about the renovations to the Fed building. Trump has repeatedly stated that Powell should resign because he has not dropped interest rates. ( Jin10 )

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