Fed chair’s job is not in jeopardy, White House economic adviser says

The head of the U.S. Federal Reserve faces no risk of losing his job and President Donald Trump is happy with his Treasury secretary, a White House official said in an apparent attempt to calm Wall Street nerves frayed by Trump’s criticism of the Fed. Asked on Wednesday if Fed Chairman Jerome Powell’s job was safe, White House economic adviser Kevin Hassett told reporters: “Yes, of course, 100 percent.” Trump blasted the Fed on Monday as the U.S. economy’s “only problem,” and investors have closely followed reports the president had privately discussed the possibility of firing Powell. The U.S. central bank chief took his post early last February after being appointed by Trump and has continued the path of gradual rate hikes started by his predecessor, Janet Yellen.