TechFlow News, May 11: In an interview, Kevin Hassett, Director of the White House’s National Economic Council, was asked how long Jerome Powell would remain on the Federal Reserve Board as a governor following Kevin Warsh’s appointment as Fed Chair. Hassett responded that he believes Powell may choose to step down once the Federal Reserve Inspector General completes its investigation into the renovation project of the Fed’s headquarters building. Hassett stated: “I suspect the opportune moment to depart could be when the Inspector General’s report is released—and Powell is satisfied with the investigation’s findings.” (Jinshi)
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