Hassett Warns of Potential Political Motivations in Fed Policy Votes

Deep News07-01 19:56

Kevin Hassett, the Director of the National Economic Council, has expressed concern that as long as Jerome Powell remains at the helm of the Federal Reserve, the voting decisions of many officials within the institution may not be driven by patriotism or national interest, but rather by a desire to oppose President Trump.

He stated that this situation must be closely monitored.

Hassett remarked that if any issues arise, the responsibility would not lie with Kevin Warsh. He noted that Warsh's role involves coordinating diverse opinions within the Fed, which is an exceptionally difficult task.

Hassett indicated that raising interest rates at the current juncture would constitute a "macroeconomic policy error."

He added that there is a belief that the Federal Reserve will base its decisions on economic data.

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