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Fed Chair Frontrunner Hassett Predicts Rate Cut This Wk, Stresses Rate Tweak Should Closely Follow Econ Data
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Kevin Hassett, the frontrunner for the next Federal Reserve Chairman and Director of the National Economic Council, remarked that the chairman's duty is to observe data, adjust monetary policy, and explain the basis for adjustments. In his view, it is irresponsible for the Fed to set a six-month interest rate roadmap, emphasizing that rate adjustments should closely follow economic data. The market generally expects the Fed to cut rates by a quarter percentage point at this week's meeting. Hassett believed that Jerome Powell will be able to coordinate the opinions of the Federal Open Market Committee, facilitating this week's rate cut. AASTOCKS Financial News Website: www.aastocks.com |
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