Summary
- Kevin Hassett said the case for an immediate rate hike is not strong.
- Hassett said indicators are pointing to another strong jobs report, suggesting the US labor market could continue its strong run.
- Markets will gauge the future path of Fed rates through US employment data and inflation readings due this week.
Kevin Hassett, director of the White House National Economic Council, said the case for raising interest rates immediately is not strong.
Walter Bloomberg reported on June 29 that Hassett said “the case for hiking rates right now is not that strong.”
Hassett also said the US labor market could continue to show strength. Indicators are pointing to another strong jobs report, he said.
The remarks came ahead of the release of the US June employment report. A strong reading could add to pressure on the Federal Reserve to keep policy tight, but Hassett indicated he does not see a pressing need for a rate increase at this point.
Markets will look to US labor data and inflation readings due this week for clues on the future path of Fed rates.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.