TechFlow news, December 9 — Hasset, a leading candidate for the next Federal Reserve chair and director of the White House National Economic Council, said Tuesday he believes the Fed has "plenty of room" to make large interest rate cuts. When asked whether he would push for the "big rate cuts" desired by Trump if appointed, he responded: "If the data shows we can do it — such as now — I think there's absolutely room to do so."
When pressed further on whether this meant a cut larger than 25 basis points, he clearly answered: "Yes." Trump told Politico on Tuesday that rapid rate cuts would be a "litmus test" for his Fed chair pick. In response to a question about whether his loyalty would lie with Trump or independent economic judgment if he became chair, Hasset said: "I'll stick to my own judgment, and I believe the president trusts my judgment too." (Jinshi)
