PANews reported on January 30th that, according to Jinshi News, White House National Economic Council Director Hassett stated that market interest rates should PANews reported on January 30th that, according to Jinshi News, White House National Economic Council Director Hassett stated that market interest rates should
White House official Hassett strongly endorsed Warsh's nomination and called on the Federal Reserve to shift towards a more accommodative stance.
News Brief
On January 30th, White House National Economic Council Director Hassett contended that market interest rates ought to decline alongside the shrinking fiscal deficit. He sharply criticized the Federal Reserve's choice to forgo rate cuts this week, deeming it misguided—particularly given that inflation now hovers near target levels. Furthermore, Hassett emphasized the government's responsibility to establish a more robust policy framework for the Fed. He expressed confidence that the US can achieve vigorous economic expansion while maintaining subdued inflation. Additionally, he commended Federal Reserve Chairman nominee Warsh, noting the White House anticipates his swift confirmation. Interestingly, despite being passed over for the Fed Chair position himself, Hassett claimed he harbored no disappointment.
PANews reported on January 30th that, according to Jinshi News, White House National Economic Council Director Hassett stated that market interest rates should be lowered accordingly, given the declining fiscal deficit. He also criticized the Federal Reserve for not cutting interest rates this week, calling it a mistake, and pointed out that inflation is nearing its target level. Hassett emphasized that the government's responsibility is to create a more favorable policy environment for the Federal Reserve and expressed confidence in achieving high economic growth in the US under low inflation conditions. Furthermore, Hassett expressed high respect for Federal Reserve Chairman nominee Warsh, stating that the White House is confident that Warsh's nomination will be quickly confirmed. Although he himself was not nominated for Federal Reserve Chairman, he was not disappointed.
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