National Economic Council Director Kevin Hassett joins “Sunday Morning Futures” to discuss inflation, calls for Jerome Powell to resign from his role as Federal Reserve Chairman and much more.
National Economic Council Director Kevin Hassett said it was time for former Federal Reserve Chairman Jerome Powell to step down from the Federal Reserve Board on “Sunday Morning Futures,” arguing that doing so would help preserve the central bank’s independence.
Hassett claimed it was unprecedented for a former Fed chair to remain on the board after his presidency ended and said Powell should “move on.”
Federal Reserve Chairman Jerome Powell holds a news conference June 18, 2025 in Washington, DC. (Win McNamee/Getty Images)
“I think it’s time for him to move forward and respect the independence of the Fed,” he told Larry Kudlow. “End this kind of partisan divide that is very visible at the Fed, and let’s get back to the way the Fed was in the past.”
THE FINAL VERDICT HAS ARRIVED FOR THE FED AND JEROME POWELL’S TROUBLED RENOVATION
Hassett called Powell’s extended tenure “totally unprecedented,” emphasizing the importance of an independent Federal Reserve to the success of the economy.
Kevin Hassett, director of the White House National Economic Council. (Al Drago/Bloomberg)
“It’s completely unprecedented for someone to lose their position as president and not resign immediately. It’s a bit like when a company gets a new CEO. The old CEO doesn’t sit in the office next to him, right?”
“I think the best way for him to preserve the independence of the Fed is to trust the people that we put there who really, really believe in the independence of the Fed,” he added.
SENATE CONFIRMS KEVIN WARSH AS FED CHAIRMAN AS TRUMP’S ECONOMIC VISION COMES INTO FOCUS
Powell’s continued presence at the country’s central bank has contributed to tensions between him and the president, who could have filled the seat left if Powell had resigned. The feud between President Donald Trump and Powell began with a disagreement over interest rates and has since evolved into a broader confrontation.
Former Reagan economist Art Laffer and American Action Forum President Douglas Holtz-Eakin join “Kudlow” to discuss Jerome Powell’s leadership of the Federal Reserve, inflation trends and the U.S. economy.
Trump has stepped up his pressure campaign in recent months, publicly criticizing the Fed’s benchmark interest rate decisions and sometimes resorting to personal attacks.
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Powell was investigated by the Justice Department for cost overruns associated with multibillion-dollar renovation projects at the Federal Reserve headquarters in Washington, D.C., but no charges were filed. U.S. Attorney General Todd Blanche confirmed that the Justice Department would not reopen a criminal investigation into Powell.
FOX Business reached out to Powell for comment but did not immediately respond.
Amanda Macias of Fox News Digital contributed to this report.
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