White House Adviser Hassett Says Rates Should Be Lower, Doesn't Expect Powell to Stay on Fed Board
Summary
- Hassett said benchmark interest rates should be lower.
- Hassett said he does not expect Chair Jerome Powell to remain on the Fed's Board of Governors.
- President Donald Trump said he would impose a 50%% tariff on countries that supply military weapons to Iran.
Forecast Trend Report by Period
Kevin Hassett, director of the White House National Economic Council, said interest rates should be lower.
In an interview with Fox Business on July 9, Hassett said, "Rates should be lower."
He also commented on Jerome Powell, whose term as Federal Reserve chair is nearing its end. Hassett said he does not expect Powell to remain on the Fed's Board of Governors.
Hassett also referred to President Donald Trump's threat to impose steep tariffs on countries that supply weapons to Iran. "If other countries are helping our adversaries, President Trump will take action," he said.
A day earlier, on July 8, Trump said any country supplying military weapons to Iran would face an immediate 50% tariff on all goods sold to the US. The tariffs would take effect immediately, with no exceptions or exemptions, he said.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
