Top Trump economic adviser Kevin Hassett said Monday that the Federal Reserve should not be raising interest rates and should even consider cutting them, adding to the pressure on Fed Chairman Kevin Warsh not to implement the rate hikes that markets are expecting.
Hassett, the National Economic Council director whom President Donald Trump considered for chairman of the central bank before selecting Warsh, made the case against raising rates during a CNBC interview. He argued that the current bout of rising inflation is not being driven by government policies, but rather by supply-side factors that would not be fixed by raising rates.
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