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.

The Fed is self-funding and doesn’t need outside approval for building projects, according to the law that created the central bank.

Two Republicans named Kevin—Kevin Hassett, one of President Trump’s closest economic advisers and Kevin Warsh, a former Federal Reserve governor—are vying to be the next leader of the central bank. Th

U.S. President Donald Trump said Wednesday he is not planning to fire Federal Reserve Chair Jerome Powell even as he unleashed a fresh round of criticism against the central bank chief and declined to completely reject the possibility of ousting him.

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

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.