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Hassett: The Federal Reserve has ample room for significant rate cuts
On December 9, news reported that Hassett, a popular candidate for the next Federal Reserve Chairman and director of the White House National Economic Council, stated on Tuesday that he believes the Federal Reserve "has ample room" for significant rate cuts. When asked whether he would promote the "significant rate cuts" desired by Trump if appointed, he responded, "If the data shows we can do this—like now—I believe there is definitely room to do so." When further questioned whether this means a rate cut greater than 25 basis points, he clearly answered, "That's right." On Tuesday, Trump stated in an interview with Politico that a rapid rate cut would be the "litmus test" for his nominee for Federal Reserve Chairman. When asked, "If appointed Chairman, will your loyalty be to Trump or to independent economic judgment?" Hassett said, "I will stick to my judgment, and I believe the president also trusts my judgment." $ETH
