Two weeks after the new Fed chair took office, HASSETT, director of the White
House National Economic Council, said the White House would oppose rate hikes.
The Fed's preferred inflation gauge is above 4% and the chair has said returning
it to 2% is non‑negotiable, but HASSETT told Fox Business that using rate
increases to curb price pressures would be a mistake. He called the expansion
supply‑driven, said the chair has expressed similar views during his campaign,
and described hikes in this context as "a macroeconomic mistake." TRUMP has
repeatedly criticized former chair Powell for keeping rates higher than he
wanted; although the president has said he would give the new chair latitude,
HASSETT's remarks signal continued White House interest in Fed policy.
