NEC Director at the White House: Fed should cut interest rates next week – predicting a reduction of 25 basis points

Kevin Hassett, Director of the National Economic Council (NEC) at the White House, just stated that the Fed should reduce interest rates at the upcoming FOMC meeting, with a decrease of 25bp.

He mentioned that recent signals from governors and regional Fed presidents are leaning towards easing, indicating a gradual shift in policy stance.

When asked if he would advocate for a strong rate cut if he became Fed Chair, Hassett responded in the proper “Fed language”:

👉 “The Fed Chair must rely on data — considering the impact of interest rates on inflation and employment.”

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