White House Economic Advisor Hassett Calls for Cautious Fed Rate Cuts, Denies Discussing Chair Succession

Kevin Hassett, Director of the White House National Economic Council, said on Dec. 5 that the Federal Reserve should proceed with cautious interest rate reductions, Jin10 reports. He projected the government shutdown's impact would exceed initial expectations, with a stronger rebound anticipated in Q1 next year, and estimated economic growth could reach 4% by 2026. Hassett noted AI economic development is outpacing the 1990s internet boom, adding that a Supreme Court rejection of tariffs would create significant disruption, while confirming he has not discussed Federal Reserve Chair candidates with President Trump.