On July 13, White House economic adviser Hassett stated that U.S. President Trump has the right to fire Federal Reserve Chairman Powell if there is evidence to support it, adding that the Federal Reserve "bears a lot of responsibility" for the cost overruns in the renovation of its Washington headquarters.

Hassett said that any decision by Trump to fire Powell would largely depend on the Federal Reserve's response to the headquarters renovation issue. White House Budget Office Director Vought last week slammed Powell for "lying" about the Federal Reserve building renovation. Trump has repeatedly said that Powell should resign because he has not lowered interest rates. (Golden Ten) [BlockBeats]