Recent comments by White House economic adviser Kevin Hassett have sparked discussions regarding the potential dismissal of Federal Reserve Chairman Jerome Powell, as well as the introduction of new tariffs on imports.
Potential Dismissal of Fed Chairman
During an interview with ABC, White House economic adviser Kevin Hassett confirmed that President Donald Trump could fire the Fed chair if there is cause, such as misconduct or dereliction of duty.
New Tariffs and Economic Strategy
Trump announced a new wave of tariffs on imports set to take effect on August 1. These measures affect goods from Canada, the EU, and Mexico. Hassett noted that these tariffs are part of a strategy to extract more favorable trade terms.
Escalation of Conflict with the Fed
The conflict between Trump and Powell continues to deepen. The president blames the Fed for slowing economic growth. The White House has also started scrutinizing the Fed’s expenses, raising questions about the legality of costs for its headquarters renovation.
In conclusion, the actions of the Trump administration, including the possible dismissal of Powell and the introduction of new tariffs, create uncertainty in the economic direction of the U.S. and highlight the deep polarization in relations with the Federal Reserve.
