In an interview with ABC News, Kevin Hassett was also pressed about the president's decision to hit imports from Brazil with steep tariffs.

Federal Reserve Chair Jerome Powell has asked the U.S. central bank's inspector general to review the costs involved in the renovation of its historic headquarters in Washington, as Trump administration officials intensify their criticism of how the Fed is being run.

President Donald Trump's long-standing feud with Fed Chair Jerome Powell burns on, this time with him calling on Powell to resign immediately. In a Wednesday night Truth Social post, the president said, "'Too Late' should resign immediately!!!"