Hassett questions Fed's unanimous 25-basis-point rate hike to 3.75%-4.00%

  • Kevin Hassett questioned the Federal Reserve's latest benchmark interest-rate increase.
  • The Fed raised rates 25 basis points to a 3.75% to 4.00% target range.
  • The FOMC unanimously approved the September 16 decision, according to the report.

Kevin Hassett, director of the White House National Economic Council, questioned the Federal Reserve's decision to raise its benchmark interest rate by 25 basis points on September 16, bringing the target range to 3.75% to 4.00%. The Federal Open Market Committee (FOMC), the Fed's rate-setting body, approved the move unanimously. Hassett also criticized the central bank's monetary-policy decisions and broader direction, saying Chair Kevin Warsh is leading an "unusually partisan" Federal Reserve. He did not explain in the remarks what he considered partisan. Walter Bloomberg reported the comments on September 23.

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