White House NEC Director Hassett said declines in beef and egg prices
notwithstanding, September CPI indicates overall inflation still requires policy
attention. He noted the past three months looked contained but September shows a
rebound that could be a brief bounce or temporary volatility. Hassett said he
respects the Fed’s independence and that the central bank will act as it deems
appropriate, and flagged rising consumer optimism and stronger spending as items
the Fed should monitor.
