White House: No decision yet on final bailout cash

WASHINGTON (Reuters) - The Bush administration is constantly evaluating whether the final $350 billion tranche of the U.S. financial bailout fund needs to be tapped and no decision has been made yet, a top White House adviser said on Thursday.

"It's an ongoing evaluation. You're constantly reevaluating: do you need more dry powder; does the market need more action. The jury is still out. We're still evaluating that," National Economic Council Director Keith Hennessey told CNBC television.

Hennessey said the Bush administration was keeping the economic team of President-elect Barack Obama informed of its thinking on ways to help credit markets and the economy.

"It's a very tight transition and we're going to make sure it's a very smooth one," he said. "There's one president at a time. We're implementing it. We're consulting them. We're seeking their views and we're taking their views into consideration when they want to provide them."

(Reporting by Tim Ahmann; Editing by James Dalgleish)