Trump economic adviser Hassett says Fed rate decision a good first step
White House economic adviser Kevin Hassett praised the Federal Reserve's decision to lower interest rates by 25 basis points, calling it a prudent first step. He emphasized the importance of a slow and steady approach to monetary policy, while acknowledging that some in the Trump administration favored a more significant cut. Hassett noted that the 25 basis point reduction reflects a broad consensus.
WASHINGTON, Sept 18 (Reuters) - White House economic adviser Kevin Hassett on Thursday welcomed the Federal Reserve’s decision to lower interest rates by a quarter of a percentage point as a good first step.
“The bottom line is that moving kind of slow and steady and heading towards the target, watching the data come in, that’s what prudent policy is,” Hassett said in an interview with CNBC.
He said he knew some in the Trump administration, like new Fed Governor Steven Miran, wanted the rate to go lower, “but I think 25 (basis point) is a pretty broad consensus.”
