{"id":2601254,"date":"2026-05-11T13:42:46","date_gmt":"2026-05-11T17:42:46","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-team-hopes-positive-ig-report-cues-low-drama-powell-exit\/"},"modified":"2026-05-11T13:43:20","modified_gmt":"2026-05-11T17:43:20","slug":"trump-team-hopes-positive-ig-report-cues-low-drama-powell-exit","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-team-hopes-positive-ig-report-cues-low-drama-powell-exit\/","title":{"rendered":"Trump team hopes positive IG report cues low-drama Powell exit"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrump-team-hopes-positive-ig-report-cues-low-drama-powell-exit%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2601254&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>National Economic Council Director Kevin Hassett said he hopes Federal Reserve chair Jerome Powell will have a peaceful way to step down once a Federal Reserve Inspector General report-focused on concerns about the Fed building renovation-comes out and Powell is satisfied with the findings. Powell\u2019s term ends Friday, but he has said he will remain on the Fed as a board member until investigations are concluded \u201cwith clarity and finality,\u201d a move Hassett acknowledged could create tension with the Trump administration.<\/p>\n<p>hassett indicated he expects Powell to leave if the Inspector General report is released soon and is favorable. The examination followed a justice Department inquiry that examined whether Powell misrepresented aspects of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kelly-claims-pattern-of-political-persecution-amid-powell-turmoil\/\" title=\"Kelly claims &#039;pattern&#039; of political persecution amid ... turmoil\">multibillion-dollar renovation<\/a> during congressional testimony; that DOJ probe was later dropped. Hassett also argued that any potential conflict with Fed independence stems from the Fed\u2019s own inquiry rather than White house interference, and he expressed confidence that Trump\u2019s nominee, Kevin Warsh, would help ensure a more politically insulated Fed leadership.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<article class=\"fn-body\">\n<p>National Economic Council Director <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/kevin-hassett\/\">Kevin Hassett<\/a> expressed hope Monday that there is an off-ramp for <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/federal-reserve\/\">Federal Reserve<\/a> Chairman <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/jerome-powell\/\" type=\"post_tag\" id=\"725\">Jerome Powell<\/a> to peacefully exit the central bank.<\/p>\n<p>Powell\u2019s term as chairman is ending Friday. But in a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-accused-trump-of-using-doj-as-his-own-law-firm-now-bidens-doj-wants-to-defend-trump-in-defamation-suit\/\" title=\"Biden Accused Trump Of Using DOJ As His \u2018Own Law Firm.... Now, Biden\u2019s DOJ Wants To Defend Trump In Defamation Suit.\">highly unusual move<\/a>, he has vowed to stay on at the central bank as a board member until the federal investigation into him is \u201cwell and truly over with transparency and finality,\u201d setting the Fed chairman up for conflict with the Trump administration.<\/p>\n<section class=\"explore-more-section\" id=\"wex-recommended-widget\">\n<div class=\"magazine-container single\">\n<h1 class=\"magazine-title mt-2\">Recommended Stories<\/h1>\n<p>             <i class=\"fa-solid fa-play icon\"><\/i>         <\/div>\n<div class=\"explore-grid\">\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/4562937\/trump-slams-dumbocrats-says-derangement-syndrome-is-disease\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Trump slams \u2018Dumbocrats\u2019 and says \u2018Trump Derangement Syndrome\u2019 is \u2018actually a disease\u2019<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/4562834\/trump-seriously-considering-venezuela-51st-state\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Trump says he\u2019s \u2018seriously considering\u2019 making Venezuela the 51st state<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/4562555\/biden-expected-oppose-release-hur-tapes-heritage-foundation-lawsuit\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Biden expected to oppose release of Robert Hur tapes in Heritage Foundation lawsuit<\/h3>\n<p>                         <\/a>                     <\/div>\n<\/p><\/div>\n<\/section>\n<p>Hassett said this week that he expects Powell to leave if Federal Reserve Inspector General Michael Horowitz\u2019s report comes out, \u201cand he\u2019s happy with the results.\u201d <\/p>\n<div class=\"article-paywall\">\n<p>Hassett said during an interview on CNBC\u2019s <em>Squawk Box<\/em> that he \u201cwould guess that the off-ramp for Jay would be if the inspector general\u2019s report comes out soon and he\u2019s happy with the results, then I would expect that he would leave.\u201d<\/p>\n<p>The investigation into Powell surrounds concerns about his oversight of the renovation of the Federal Reserve building in Washington. The Justice Department launched <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/justice\/4414264\/doj-criminal-investigation-jerome-powell\/\">a criminal investigation<\/a> into Powell in early January to probe whether he lied or misrepresented the taxpayer-funded, multibillion-dollar renovation of the Fed headquarters building during congressional testimony in June 2025. <\/p>\n<p>Powell maintained his innocence and suggested Trump had fueled the investigation into him due to the pair\u2019s disagreement over interest rates, violating the central bank\u2019s independence. Trump wanted the central bank to lower rates, which the Fed Board of Governors has refused to do, and repeatedly mused about firing the chairman before the DOJ launched its investigation.<\/p>\n<p>The DOJ <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/news\/4539301\/doj-drops-investigation-jerome-powell-trump-fed-kevin-warsh\/\">dropped its investigation <\/a>into Powell in late April. At the time, U.S. Attorney for the District of Columbia Jeanine Pirro said that Horowitz had been asked to scrutinize the <a href=\"https:\/\/amzn.to\/3YuVZYV\" >building cost overruns<\/a>.<\/p>\n<p>Hassett pushed back against Powell\u2019s concerns on Monday that Trump violated the Fed\u2019s independence. And he expressed confidence that <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/kevin-warsh\/\">Kevin Warsh<\/a>, Trump\u2019s nominee to replace Powell at the Fed, will craft an environment \u201cless prone to creating political conflicts.\u201d The Senate is expected to confirm Warsh as the next chairman this week.<\/p>\n<p><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4546822\/warsh-test-limits-fed-reform\/\"><strong>WARSH SET TO TEST LIMITS OF FED REFORM<\/strong><\/a><\/p>\n<p>\u201cI think in the end, Kevin will talk to Jay and see what it takes, but again, where we are is that the inspector general of the fed is investigating the building situation, and so it\u2019s not like the White House is disrespecting the independence of the fed, it\u2019s the fed itself that\u2019s looking into it,\u201d Hassett said.<\/p>\n<p>\u201cI think there\u2019s an underappreciated reason why markets are doing so well \u2014 that there\u2019s going to be a change of leadership at the Fed, that leadership is going to be more level-headed, less prone to creating political conflicts that are, you know, different from the charge of the Fed,\u201d he added. <\/p>\n<\/div>\n<\/article>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Economic Council Director Kevin Hassett hopes Jerome Powell can peacefully exit the Fed as his term ends Friday<\/p>\n","protected":false},"author":3142,"featured_media":2601255,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/05\/AP26119731226563.jpg?w=696","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[32663,47104,79479,79478,3634],"class_list":["post-2601254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-federal-reserve","tag-ig-report","tag-low-drama","tag-powell-exit","tag-trump"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/05\/AP26119731226563.jpg?w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2601254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3142"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2601254"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2601254\/revisions"}],"predecessor-version":[{"id":2601258,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2601254\/revisions\/2601258"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2601255"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2601254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2601254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2601254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}