Hassett hinted that Powell may resign after the release of the Inspector General report on the Federal Reserve.

White House advisor Kevin Hassett was asked on CNBC how long he believes Jerome Powell will remain as a director at the Federal Reserve even after Kevin Warsh takes over as chairman. Hassett said he believes that Powell may feel comfortable stepping down after the Inspector General of the Federal Reserve completes an investigation into the renovation project of the Federal Reserve building. "I would guess that if the Inspector General's report comes out soon and he is satisfied with the results, that would be the time for Jay to step down," Hassett said.