Fed’s Pow­ell ‘100%’ Safe From Trump, Has­sett says

The Bond Buyer - - Market News -

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.

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