Summary
- Kevin Hassett, chairman of the White House National Economic Council, said a rate cut is necessary in December.
- Analysts said major economic indicators, such as recent rises in the unemployment rate and slowing inflation, could affect the Fed's policy judgment.
- Markets said they are paying attention to the divergence of views within the Fed over rate cuts and the impact the White House's comments may have on policy discussions.
Kevin Hassett, chairman of the White House National Economic Council (NEC), said that a rate cut in December is necessary. It is interpreted as a remark that reveals the White House's leaning on the Federal Reserve's (Fed) next move.
On the 20th (local time), according to the economic breaking news channel Walter Bloomberg, Chairman Hassett said, "Recent economic indicators show that rates should be cut in December." However, he did not mention specific supporting indicators or additional evaluations.
The Fed has implemented two rate cuts this year and will decide on additional easing at the Federal Open Market Committee (FOMC) meeting in December. Analysts say that recent rises in the unemployment rate and slowing inflation, among other major economic indicators, are likely to influence the Fed's policy judgment.
Markets have raised observations that differences of opinion within the Fed over rate cuts are widening, and attention is focusing on what impact the White House's remarks will have on policy discussions.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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