Trump team hopes positive inspector general report leads to low-drama Powell exit

Published May 11, 2026 1:24pm ET | Updated May 11, 2026 1:24pm ET



National Economic Council Director Kevin Hassett expressed hope Monday that there is an off-ramp for Federal Reserve Chairman Jerome Powell to peacefully exit the central bank.

Powell’s term as chairman is ending Friday. But in a highly unusual move, he has vowed to stay on at the central bank as a board member until the federal investigation into him is “well and truly over with transparency and finality,” setting the Fed chairman up for conflict with the Trump administration.

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