Hassett Offers Endorsement of Fed Rate Cut, Says It’s a Start
The White House National Economic Council Director, Kevin Hassett, has endorsed the Federal Reserve's decision to cut interest rates by 25 basis points. This move comes after President Donald Trump and his allies had pushed for a more significant reduction. Hassett stated that the rate cut is a "start" and a positive step, suggesting that further cuts may be necessary. The decision to lower rates is intended to stimulate the economy and counter the potential impact of the ongoing trade tensions and global economic slowdown. While the Fed's action was not as aggressive as some had hoped, Hassett's endorsement suggests a level of alignment between the White House and the central bank's approach to monetary policy. The article highlights the ongoing dialogue and potential for further policy adjustments to address the economic challenges faced by the United States.
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