The Federal Reserve's] hesitancy to cut rates, I think, is actually … quite a mark against them,” former Fed governor Kevin Warsh said.

Replacing Federal Reserve Chair Jerome Powell is not a question of if, but when.Speculation over who could succeed Mr Powell ramped up this week following reports that President Donald Trump was considering firing the Fed chair – an unprecedented action.

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.

President Donald Trump said he would consider National Economic Council Director Kevin Hassett to replace Jerome Powell as chair of the Federal Reserve. Hassett said he believes the Fed should remain independent but wouldn’t comment on if he would take the job if it was offered to him.

One is rising to the top of the list of potential candidates, while the other is facing skepticism from President Trump’s allies.Kevin Hassett, one of Trump’s closest economic advisers, is emerging as a serious contender to be the next Fed chair,

National Economic Council Director Kevin Hassett joins ‘Squawk Box’ to discuss President Trump's recent tariff announcement on Europe and Mexico, his views on the work of Fed Chair Jerome Powell, and more.