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White House Economic Adviser Says Federal Reserve Has Room to Cut Rates

According to Jin10, White House National Economic Council (U.S. presidential economic advisory body) Director Hassett said the Federal Reserve still has scope to lower interest rates and that recent oil price increases will reverse.

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Terms & Concepts
  • Federal Reserve: The central bank of the United States, which sets monetary policy including benchmark interest rates.
  • Interest rate cut: A reduction in benchmark borrowing costs, typically used to support economic activity and financial conditions.