Top White House adviser: 'No conversation' about getting rid of Fed chairman

Top White House adviser: 'No conversation' about getting rid of Fed chairman
© Getty Images

Top White House economic adviser Larry KudlowLawrence (Larry) Alan KudlowMORE on Friday said that there has been no discussion of getting rid of Federal Reserve Chairman Jerome Powell despite President TrumpDonald John TrumpTrump's newest Russia adviser, Andrew Peek, leaves post: report Hawley expects McConnell's final impeachment resolution to give White House defense ability to motion to dismiss Trump rips New York City sea wall: 'Costly, foolish' and 'environmentally unfriendly idea' MORE's persistent criticism of his leadership of the central bank.

"There is no conversation to get rid of him whatsoever. Whatsoever. So let me just put an exclamation point there," Kudlow told reporters on the White House driveway.

ADVERTISEMENT

Kudlow, the director of the National Economic Council, echoed Trump's criticism of the Fed's monetary policy early in the president's term.

"It was unnecessary and it damaged the economy," he said. "Now, they have changed their direction. My view at least, monetary policy is in a much better direction now."

Trump has ripped the Fed on a regular basis on Twitter, blaming its policies for holding back the economy and berating it for not cutting rates further. The president has targeted Powell by name repeatedly, criticizing his "lack of vision" and questioning whether he is a bigger economic foe to the U.S. than Chinese President Xi Jinping.

Trump has previously speculated that he could fire Powell, whom he appointed, though experts have cast doubt on that assertion.

The president on Thursday tweeted that "people are VERY disappointed in Jay Powell and the Federal Reserve," citing its decisionmaking early in his term.

That tweet came a day after the Fed said it would cut interest rates for the third consecutive time this year as the U.S. economy continues to slow amid a global slump.