PANews reported on November 21 that Hassett, former director of the White House National Economic Council and Trump's nominee for Federal Reserve Chair, stated that it would be "a very bad time" for the Fed to pause interest rate cuts in December. He predicts the government shutdown will cause a 1.5 percentage point decline in fourth-quarter GDP, while inflation data is positive, and pausing easing policies now would exacerbate the economic downturn. He pointed out that while job growth has rebounded, it is insufficient to offset macroeconomic pressures, emphasizing that the Fed should continue its pace of interest rate cuts.PANews reported on November 21 that Hassett, former director of the White House National Economic Council and Trump's nominee for Federal Reserve Chair, stated that it would be "a very bad time" for the Fed to pause interest rate cuts in December. He predicts the government shutdown will cause a 1.5 percentage point decline in fourth-quarter GDP, while inflation data is positive, and pausing easing policies now would exacerbate the economic downturn. He pointed out that while job growth has rebounded, it is insufficient to offset macroeconomic pressures, emphasizing that the Fed should continue its pace of interest rate cuts.
Federal Reserve Chair nominee Hassett: Pausing rate cuts in December would be "a very bad time."
PANews reported on November 21 that Hassett, former director of the White House National Economic Council and Trump's nominee for Federal Reserve Chair, stated that it would be "a very bad time" for the Fed to pause interest rate cuts in December. He predicts the government shutdown will cause a 1.5 percentage point decline in fourth-quarter GDP, while inflation data is positive, and pausing easing policies now would exacerbate the economic downturn. He pointed out that while job growth has rebounded, it is insufficient to offset macroeconomic pressures, emphasizing that the Fed should continue its pace of interest rate cuts.
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