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US White House NEC Director Hassett says he is not disappointing that he did not get the Fed Chair nomination, via CNBC

NEC Director Hassett's remarks provide insights into the administration's monetary policy stance and expectations around the Fed's actions.

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US White House NEC Director Hassett says he is not disappointing that he did not get the Fed Chair nomination, via CNBC

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Fed:

  • Have high a regard for Warsh, will make every effort to get him confirmed quickly. Trump wants him to be confirmed quickly.
  • Warsh can speak to what the President wants, in terms of monetary policy.
  • Legal issues with the Fed should be resolved quickly.
  • Inflation is not far from its target; the Fed made a mistake not cutting rates this week.

Economy:

  • "I am confident can have high growth with low inflation".
  • PPI inflation data is different than CPI.
  • Supply side boom is to give room for the Fed to lower rates.

US:

  • The Trump admin is being fiscally responsible.
  • Market interest rates should go down become of lower deficits.

USD:

  • There are good reasons to want a strong USD. 
  • A strong Dollar comes from fiscal policy action. 
Context

His belief that inflation is near target, alongside calls for lower rates due to a supply-side boom, indicates a more dovish outlook, which could impact market sentiment on interest rates and the USD. Additionally, his comments on the importance of strong fiscal policy in supporting a robust dollar suggest potential implications for FX markets and broader economic stability.

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