President Trump could possibly fire Federal Reserve chair Jerome Powell over questions about the renovation of Fed facilities, National Economic Council director Kevin Hassett said Sunday. Why it matters: The administration's relentless efforts to get Powell to either cut interest rates or leave have called the future independence of the central bank into question.

The president’s attacks on the independence of the Federal Reserve could further harm the dollar’s status as the preeminent international reserve currency, making credit dearer rather than cheaper.