Hasset: Latest CPI Report Surprisingly Good, Fed Has Significant Room for Rate Cuts

BlockBeats News, December 18th: On the 11th of December, the Director of the White House National Economic Council, Hassett, welcomed the November CPI report, stating that the U.S. economy is showing signs of high growth and decreasing inflation.

He said, "I'm not saying we're ready to declare victory on prices, but this is a surprisingly good CPI report." Hassett noted that wage growth is outpacing price growth, American taxpayers will see significant refunds next year, and the government will help lower mortgage rates. He said, "The Fed has a lot of room to cut interest rates."

Hassett is a leading candidate to succeed Powell as the next Chairman of the Federal Reserve. He also stated that the Fed should be more transparent in the future. "I think the Fed has to double its transparency. Whoever leads the Fed should lay all the cards on the table so we can figure out what that institution is really up to." (FXStreet)