Jerome Powell, chairman of the U.S. Federal Reserve, left, and Steven Mnuchin, U.S. Treasury secretary, arrive for a Financial Stability Oversight Council (FSOC) meeting at the U.S. Treasury in Washington, D.C., U.S. (Photographer: Al Drago/Bloomberg)

Fed’s Powell Is ‘100%’ Safe, Trump Adviser Hassett Says

(Bloomberg) -- 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.

Fed’s Powell Is ‘100%’ Safe, Trump Adviser Hassett Says

Trump said Wednesday that he retained confidence in Powell and the Federal Reserve but that the Fed was increasing interest rates too quickly.

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