Summary
- Kevin Hassett said the outlook for inflation is "very positive."
- He said the recent Consumer Price Index (CPI) came in below expectations and that the pace of price increases is easing.
- Economic experts said the remarks are a positive signal that could support the Fed's additional interest rate cuts.
Kevin Hassett, chair of the White House National Economic Council (NEC), said the inflation (rate of price increases) outlook is "very positive."
On the 11th (local time), according to economic news channel Walter Bloomberg, Hassett said in an interview with CNBC, "the recent Consumer Price Index (CPI) has come in below expectations and price pressures are easing," and "inflation is getting closer to the Federal Reserve (Fed)'s target level."
He also added, "Housing costs are still a key factor in household burdens, but the White House is reviewing new policy measures to ease the cost-of-living burden."
Economic experts regard the remarks as a positive signal that could support the possibility of further interest rate cuts by the Fed.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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