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Hassett reaffirms rate cut stance, supports proposal for regional Fed chair residency requirement
Summary: In breaking news, according to sources, Kevin Hassett, a top contender for the next Federal Reserve chair and current White House National Economic Council director, reiterated his expectation that Fed policymakers will cut rates at the upcoming meeting next week. "Now is a good time for the Fed to cautiously cut rates again," he stated ...
In breaking news, according to sources, Kevin Hassett, a top contender for the next Federal Reserve chair and current White House National Economic Council director, reiterated his expectation that Fed policymakers will cut rates at the upcoming meeting next week. "Now is a good time for the Fed to cautiously cut rates again," he stated on Fox Business Channel. He predicted an economic boom by early 2026 as the economy rebounds from the recent government shutdown impact and new manufacturing plants show benefits. Hassett also publicly endorsed Treasury Secretary Benson's proposal to increase residency requirements for regional Fed chair appointments. Hassett stated, "The purpose of establishing all these regional Feds is to ensure the establishment of a federal system that allows different regions with different concerns to have a voice in decision-making." Benson announced on Wednesday that he will push for a new rule requiring regional Fed chair candidates to reside in their district for at least three years - the latest move in a series of actions aimed at reshaping the institution after the Trump administration accused the Fed of mission creep beyond monetary policy."
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Link: Hassett reaffirms rate cut stance, supports proposal for regional Fed chair residency requirement [Copy]
