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Hassett: Powell May Choose to Step Down After Inspector General's Report
On May 11, Hassett, the Director of the National Economic Council at the White House, was asked in an interview how long Powell would remain as a board member after Kevin Warsh takes over as Chairman of the Federal Reserve. Hassett stated that he believes Powell may feel he can choose to step down after the Federal Reserve’s Inspector General completes the investigation into the renovation project of the Federal Reserve building. Hassett said, ‘I guess the opportunity to step down might arise with the release of the Inspector General’s report, and he would be satisfied with the findings of the investigation.’