White House economist Kevin Hassett repeatedly refuses to endorse President Trump's pleas for the Federal Reserve to slash interest rates to juice growth
Hassett, chairman of the Council of Economic Advisers, struck a far different tone than Vice President Mike Pence and economic adviser Larry Kudlow, each of whom urged the Fed to lower rates."It's not my job at CEA to give the Fed advice," Hassett told CNN's Poppy Harlow on Thursday."My job at CEA is to remind people to respect the independence of the Fed.
Unemployment claims plunged last week below 200,000 to the lowest level since 1969. And wages have finally accelerated. "Growth is very, very strong," Hassett said, seemingly undercutting the case for lowering rates."But also, inflation is low. That's why some folks on Wall Street say maybe at least what the Fed's current policy is, is sensible."The current policy, however, does not project any rate cuts.
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