Hassett: Willing to serve as Fed Chair, advocates for larger rate cuts

According to Jinshi reports, Kevin Hassett, the director of the White House National Economic Council, stated that he has told Trump that he would accept the position if nominated to replace Powell as the chairman of the Federal Reserve. Hassett hopes to implement a larger rate cut at the policy meeting in December, believing there is justification for a 50 basis point cut, but expects the Federal Reserve will only cut by 25 basis points. He expressed surprise that Powell did not take more aggressive action on rate cuts against the backdrop of the government shutdown and inflation data.