Hassett criticizes Powell: Staying on at the Fed is highly unusual, hindering Trump from appointing new candidates.

White House National Economic Council Director Kevin Hassett criticized former Federal Reserve Chairman Jerome Powell for remaining at the U.S. central bank, saying it has hindered the Trump administration's ability to appoint new governors.

Hassett said in an interview on Thursday:

"It is highly unusual that Powell did not choose to step down. It is a very abnormal situation for a former chairman to remain in that position."

When asked whether there were "specific members within the Fed that he is concerned about," Hassett responded as above. The day before, he said on Fox Business:

"There are many people inside the Fed who may not vote out of patriotism when they vote, but because they want to target Trump."

The tension between the two sides has been escalating, as Fed policymakers have not significantly cut interest rates as repeatedly requested by U.S. President Trump and decided to keep the benchmark rate unchanged last month.

Currently, on the Federal Reserve Board, Trump has successfully appointed only one member since the start of his second term—new Chairman Warsh. Powell's term as a Fed governor runs until January 2028, and he has previously stated he will not leave for now.

In April, Powell said that because he was concerned that an investigation into the Fed's headquarters construction project might be politically motivated, he would leave "when he thinks it is appropriate."

Hassett said: "I am concerned about his motives." On Wednesday, he said, "We need to keep a close eye on this." However, on Thursday, he added: "Ultimately, this is a problem that Warsh will solve."

When asked whether an investigation into Powell was necessary, Hassett responded:

"The Fed needs to do its job. They have excellent leadership, and we hope everything will go smoothly in the end."

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