Hassett: The Fed can definitely cut rates by 50 basis points or even more
As the Federal Reserve is about to announce its interest rate decision, Kevin Hassett, Director of the White House National Economic Council, was interviewed by Fox News. He said that the market expects the Fed to cut rates by 25 basis points, and a 25-basis-point cut would be a small step in the right direction. Fed Chair Jerome Powell has engaged in extensive negotiations to achieve a 25-basis-point cut. The Fed may also need to take more rate-cutting actions, as they have ample room to lower rates and can definitely cut by 50 basis points or even more. Stronger data may support a 50-basis-point cut.
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