White House advisers say President Donald Trump doesn’t have the authority to remove Federal Reserve Chairman Jerome Powell for raising interest rates, aiming to quell speculation that Trump’s anger over monetary policy might lead to a confrontation that could jar volatile financial markets.

Mick Mulvaney, the president’s incoming chief of staff, said Sunday on ABC’s “This Week” that Trump “now realizes” he cannot sack the Fed chairman. That follows Treasury Secretary Steven Mnuchin’s statement Saturday that the president hadn’t suggested firing Powell and didn’t believe he could do so.