Summary
- Kevin Hassett said he was questioning the Federal Reserve’s recent interest-rate hike decision.
- The Fed raised its benchmark interest rate by 25 basis points on September 16 to 3.75% to 4.00%, and the decision was unanimous at the FOMC.
- Hassett criticized the Fed’s monetary policy decisions and broader direction, saying Chair Kevin Warsh is leading an unusually partisan central bank.
Forecast Trend Report by Period
Kevin Hassett, director of the White House National Economic Council, questioned the Federal Reserve’s recent decision to raise interest rates.
Walter Bloomberg reported on September 23 that Hassett had cast doubt on the Fed’s latest rate increase and said Fed Chair Kevin Warsh was leading an “unusually partisan” Federal Reserve.
The Fed raised its benchmark interest rate by 25 basis points on September 16 to 3.75% to 4.00%. The decision was unanimous at the Federal Open Market Committee, or FOMC.
Hassett criticized the Fed’s monetary policy decisions and broader operating direction, but he did not specify in the remarks what he considered partisan.
JH Kim
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