Hassett Backs Powell Interpretation on Staying On ‘Pro Tempore’

White House National Economic Council Director Kevin Hassett indicated support for Federal Reserve Chair Jerome Powell’s plan to stay at the central bank’s helm on a temporary basis if a successor hasn’t been confirmed by the Senate when his term expires next month.

“I think that’s the appropriate legal understanding,” Hassett said in a Bloomberg event in New York Wednesday when asked about Powell’s plan.