Hassett Says Room for Fed to Cut More Than 25 Basis Points (1)

White House National Economic Council Director Kevin Hassett said he sees plenty of room to substantially lower the Federal Reserve’s benchmark interest rate.

Hassett, the frontrunner in Donald Trump’s search for the next Fed chair according to a Bloomberg report, was asked at the Wall Street Journal CEO Council Summit Tuesday if he would push for the substantially lower rates the president wants if he gets the job.

“If the data suggests that we could do it, then — like right now — I think there’s plenty of room to do it,” he said. Asked whether that ...