Back

White House Economic Adviser Hassett Says U.S. Federal Reserve Must Cut Rates Further

Kevin Hassett emphasizes the need for additional interest rate reductions by the U.S. Federal Reserve, alongside a detailed tariff contingency plan.

Summary

Kevin Hassett, White House economic adviser, stated that the U.S. Federal Reserve needs to implement further interest rate cuts. He also noted that the Fed has a detailed contingency plan on tariffs, underscoring the ongoing focus on economic stability.

Terms & Concepts
  • U.S. Federal Reserve: The central bank of the United States that sets monetary policy, including interest rates.
  • Interest rate cut: A monetary policy action that lowers benchmark rates to stimulate borrowing and economic activity.
  • Monetary policy: Central bank measures managing money supply and interest rates to influence economic conditions.