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

Odaily Odaily reports that 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. Hassett stated on Wednesday, "I think this is the proper legal understanding." Trump has nominated Warsh to succeed Powell, but Republicans currently do not have enough votes to move the nomination from the Senate Banking Committee to the Senate for confirmation. Republican Senator Thom Tillis indicated he will postpone the vote until the Justice Department ceases its alleged "sham" investigation into cost overruns in 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 proceed." (Jinshi)