Trump indicated that Powell’s handling of an extensive renovation project on two Fed buildings could be grounds to fire him.

WASHINGTON, July 13 (Reuters) - U.S. President Donald 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.

Investors don’t seem to give much credence to claims that cost overruns will give President Trump justification to oust Fed Chair Powell.