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The White House economic advisor Kevin Hassett stated on Friday that President Donald Trump and his team are considering the issue of dismissing Jerome Powell, the chairman of the Federal Reserve.

Hassett responded to a question at the White House regarding whether dismissing Jerome Powell is an option, saying, "The president and his team will continue to study this matter."

Hassett's statement came a day after Trump intensified a longstanding feud with Powell, accusing him of acting "for political purposes" by not lowering interest rates.

Trump added that he has the authority to dismiss Powell from his position "very quickly."