Trump's Fed Firing Fears Spark Credibility Concerns

The National Economic Council head Kevin Hassett was grilled by CNBC anchors over the Federal Reserve's credibility under Donald Trump. The White House has notified Fed governor Lisa Cook that the President is considering removing her due to alleged false statements on mortgage agreements.

When asked about the independence of the Fed, Hassett said it's a 'law enforcement matter' and that he hopes Cook is innocent, but acknowledged that if there is a cause for removal, the president has the right to fire her.

Hassett defended the president's actions by saying Kevin Warsh, the new chair of the Fed, is 'independent as it comes' and would not do something just because the President told him to. However, he also acknowledged that there are concerns about the Fed's credibility under Trump.