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White House Economic Council Director Sees Significant Rate-Cut Capacity at Federal Reserve

Hassett, head of the National Economic Council, noted that the U.S. central bank could still make substantial reductions in interest rates.

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Terms & Concepts
  • Federal Reserve: The central bank of the United States, responsible for monetary policy, including setting interest rates.
  • Interest Rate Cut: A reduction in the rate charged by central banks on loans to commercial banks, often used to stimulate economic activity.
  • National Economic Council: A U.S. government body that advises the President on domestic and international economic policy.