Economic advisor to the White House Kevin Hassett stated on Friday that U.S. President Donald Trump and his team are considering the dismissal of Jerome Powell, Chairman of the Federal Reserve.

Hassett responded to a question at the White House about whether Powell's dismissal is an option by saying, "The president and his team will continue to study this matter."

Hassett's statement came a day after Trump escalated an old dispute 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."

Earlier, Powell told Trump that the law "does not allow for his dismissal," and that he would not leave his position if asked to do so by Trump, indicating that he intends to continue in his role until the end of his term in May 2026.

Powell clarified this week that he does not believe the current case before the U.S. Supreme Court will apply to the Federal Reserve.

The U.S. Treasury Secretary warned that dismissing Federal Reserve Chairman Jerome Powell could expose financial markets to instability.

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