President Donald Trump said he would consider National Economic Council Director Kevin Hassett to replace Jerome Powell as chair of the Federal Reserve. Hassett said he believes the Fed should remain independent but wouldn’t comment on if he would take the job if it was offered to him.

Kevin Hassett, President Donald Trump’s longest-serving economic adviser, is a leading contender to become the next Federal Reserve chairman, a position with significant influence over interest rates and the US economy.

President Trump has the authority to fire Federal Reserve Chair Jerome Powell for cause if evidence supports that, White House economic adviser Kevin Hassett said on Sunday, and that the Fed “has a lot to answer for” on renovation cost overruns at its Washington headquarters.

Kevin Hassett, one of President Donald Trump's longest-serving economic aides, is the early frontrunner to replace Jerome Powell as Federal Reserve chief next year, according to people familiar with the process.

He also said that countries that export goods to the U.S. are eating the tariff costs themselves instead of passing them on to the buyers in the United States.

Patriotism is now being used as an inflation control strategy by the White House, according to economic advisor Kevin Hassett, who on Monday told CNBC’s Squawk Box that Americans are choosing to buy more local products because of President Trump.

White House National Economic Council Director Kevin Hassett said President Donald Trump has seen outlines of trade deals ahead of the Aug. 1 tariff deadline. “The bottom line is that he’s seen some sketches of deals that had been negotiated with Howard Lutnick and the rest of the trade team,

Kevin Hassett, Trump’s longest-serving economic adviser, is a leading contender to become the next Federal Reserve chairman, a position with significant influence over interest rates and the U.S. econ