Hassett: The Fed has ample room to cut interest rates significantly.

Odaily Planet Daily reports that Hassett, a leading candidate for the next Federal Reserve Chairman and director of the White House National Economic Council, said on Tuesday that he believes the Fed has "ample room" to cut interest rates significantly. When asked if he would push for the "significant rate cuts" Trump desires if appointed, he responded, "If the data shows we can do that—like now—I think there's absolutely room to do it." When further pressed on whether this meant a rate cut exceeding 25 basis points, he unequivocally answered, "Yes." Trump, in an interview with Politico on Tuesday, stated that rapid rate cuts would be a "litmus test" for his Fed chairmanship nominee. When asked whether he would be loyal to Trump or independent economic judgment if appointed chairman, Hassett said, "I will stick to my own judgment, and I believe the president trusts my judgment too."