
Nick Timiraos|Jul 13, 2025 16:57
Hassett to ABC News on whether Trump uses the Fed building expenses as a pretext to get what he wants, which is a new Fed chair.
HASSETT: "I think that whether the president decides to push down that road or not is going to depend a lot on the answers that we get to the questions that Russ Vought sent to the Fed...."
"The bottom line is that there's a key statutory problem. In 1913, when we founded the Fed, the U.S. was under a gold standard.
So, it was never envisioned, never envisioned by the people that voted for the construction of the Fed that we currently see, that the Fed could print money and toss it around willy-nilly because they had to have the gold to do what they're doing. And they're unbounded right now."
ABC's Jonathan Karl: "Very quickly, yes or no answer, does the president, in your view, have the authority to fire the Fed chair?"
HASSETT: "That's a thing that's being looked into. But certainly, if there's cause, he does."
Share To
Timeline
HotFlash
APP
X
Telegram
CopyLink