President Donald Trump won’t try to fire Federal Reserve Chairman Jerome Powell, a top White House economic adviser said.
Kevin Hassett, chairman of the White House Council of Economic Advisers, told reporters “yes, of course, a hundred percent” on Wednesday after he was asked whether Powell’s job is safe.
Hassett also said that U.S. banks aren’t facing a liquidity crisis.
Bloomberg News reported last week that Trump has discussed firing Powell, rattling markets. Treasury Secretary Steven Mnuchin caused further turmoil on Sunday after issuing a statement saying top U.S. bank executives had assured him they had adequate liquidity to make loans, raising the prospect of a problem investors hadn’t anticipated.
Trump said Wednesday that he retained confidence in Powell and the Federal Reserve but that the Fed was increasing interest rates too quickly.
