Two of President Donald Trump's contenders to succeed Federal Reserve Chair Jerome Powell are increasing their alignment with the president in hopes to secure the nomination.

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.

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,

White House Economic Council Director Kevin Hassett defends Trump's 50% copper tariff, citing national security concerns and domestic production.

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