Hassett Criticizes the Fed: "Next Week Should Be a Rate Cut"
Kevin Hassett, Director of the US National Economic Council, said that the Federal Reserve should cut interest rates at next week's meeting. In an interview with Fox News, he mentioned a 25 basis point cut as the most likely scenario, based on recent statements from Fed governors and regional presidents. He said Fed officials now appear more inclined toward a rate cut.
Hassett's statement comes amidst intense speculation about who will be the next Fed Chair. President Donald Trump previously hinted that he would announce his choice for Fed Chair in early 2026 and said he already had a final list. In recent days, Trump has also frequently praised Hassett, leading many to speculate that he could be a strong candidate to replace Jerome Powell.
When asked how many rate cuts he might make if he were to lead the Fed, Hassett chose not to provide a specific number. He emphasized that the Fed Chair's job is to be responsive to data and carefully consider how any rate changes will affect inflation and employment. In other words, the direction of future policy will still depend on economic conditions, not just initial promises. (az)
Source: Newsmaker.id
