White House National Economic Council Director Kevin Hassett stated that he and President Donald Trump will respect whatever decision Federal Reserve Chair Kevin Walsh makes tomorrow, when asked whether a potential rate hike by Walsh would be a mistake.
In an interview, Hassett remarked, "We hold Kevin Walsh in high regard. The President and I have known him for many years." He went on to outline reasons why the Fed should not raise interest rates, but added that "we" will respect the decision the Federal Reserve ultimately makes.
The comments come amid growing speculation that the Federal Reserve is widely expected to raise rates in September, with market odds currently pricing in a 90% probability of a hike, even as Trump has applied public pressure on the central bank to hold off.
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