Hassett reiterated his stance on interest rate cuts and supported the proposal by regional Fed presidents for a new three-year residency requirement.

Odaily Planet Daily reports that Hassett, the White House National Economic Council director and a leading candidate for the next Federal Reserve Chair, reiterated his expectation on Friday that Fed policymakers will cut interest rates at next week's meeting. "Now is a good time for the Fed to cautiously cut rates again," he told Fox Business Network. He predicts a surge in economic growth in early 2026 as the economy recovers from the recent federal government shutdown and new factories begin to show results. Hassett also publicly supported Treasury Secretary Bessant's initiative to add residency requirements for the appointment of regional Fed presidents. Hassett stated, "The original intention of establishing all these regional Feds was to ensure a federal system where regions with different concerns can have a voice at the decision-making level." Bessant said on Wednesday that he would push for new rules requiring candidates for regional Fed president to reside in their respective jurisdictions for at least three years—the latest in a series of moves by the Trump administration to reshape the Fed after accusing it of "mission sprawl" beyond monetary policy. (Jinshi)