WH economic advisor Kevin Hassett is speaking on CNBC and says:
There is plenty of room to cut ratesUS rates are out of touch with the rest of the worldon the jobs data sees a solid upward trajectory.Trump thinks interest rates could be lower.If I were there, I’d have to negotiate with the rest of the committee.Fed would have to see what kind of consensus could be reached.Thinks we can reach 3% growth and 1% inflation againDeficit reduction is a key to the economy to lower rates.We are pretty positive that the Supreme Court will rule in our favor, and if not we have backup plans.We have deals 232s and 301s to use as a backstop for tariffs if the Supreme Court rules against the tariffs. If Trump has a good reason, and I agree with it, I will present it to the others at the FedNeed consensus based on facts, data.
This article was written by Greg Michalowski at investinglive.com.