"Shadow Federal Reserve Chairman" Hassett: The Federal Reserve has more than 25 basis points of room to cut interest rates, and I will do whatever Trump asks
White House National Economic Council Director Hassett stated that the Federal Reserve has more than 25 basis points of room to cut interest rates and emphasized that he would do whatever Trump requests. Hassett believes that Treasury Secretary Mnuchin is the best candidate for the Federal Reserve Chair, but Mnuchin does not want the position
The Director of the National Economic Council of the White House, Kevin Hassett, discussed the Federal Reserve's interest rate cuts, stating: we need to wait and see. The Federal Reserve has a lot of room for rate cuts. (When asked if there is room for a cut greater than 25 basis points) It is that way. We must acknowledge that such (personnel changes) alternating moments are similar to the 1990s. The growth rate of real wages is "very impressive," just like in the 1990s. (The matter) is decided by President Trump; he makes choices and changes his mind. Whatever Trump asks of me, I will do it. I believe that Treasury Secretary Mnuchin is the best candidate for the Federal Reserve Chair, but he does not want that position.
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