Hassett supported Powell's explanation regarding remaining as "interim chairman of the Federal Reserve."

White House National Economic Council Director Hassett expressed support for Federal Reserve Chairman Powell's plan—to remain as Fed chairman temporarily if his successor is not confirmed by the Senate when his term expires in May. "I think that's the proper legal understanding," Hassett said Wednesday. Trump has nominated Warsh to succeed Powell, but Republicans do not yet have enough votes to move the nomination from the Senate Banking Committee to the Senate for confirmation. Republican Senator Thom Tillis said he would postpone the vote until the Justice Department stops its alleged "sham" investigation into cost overruns at the Fed building renovation project. Speaking about Warsh, Hassett said, "We are very confident that he will become chairman in the appropriate time. I believe there will be discussions about how to move forward." (Jinshi)