White House National Economic Council chairman "25bp rate cut is more realistic"

Kevin Hassett (Kevin Hassett), chairman of the White House National Economic Council (NEC), said it is unlikely that the Federal Reserve (Fed) will implement a 50bp rate cut at its next meeting, and that a 25bp cut is a more realistic choice.

On the 12th (local time), according to economic news channel Walter Bloomberg, Hassett said, "If I attend the FOMC meeting, I am likely to support a rate cut, but Chair Powell is less likely to do so," and added, "If asked to take the Fed chair position, I would accept."

Hassett previously served as chairman of the White House Council of Economic Advisers (CEA) under the Trump administration, and his remarks are interpreted as highlighting a difference in tone between the White House and the Fed over rate policy.