Hassett: Iran-US Dialogue Not Meaningless, Fed Balance Sheet Reduction Should Be Gradual

Odaily News According to Hassett, Director of the White House National Economic Council, the Iran-US dialogue is not meaningless, and the United States is cooperating with Iran on a potential major agreement. Despite the war, he still expects the U.S. economy to maintain growth of 4% to 5% this year. Regarding the policy agenda, he hopes the reconciliation bill can be completed by June and plans to study a second reconciliation bill in the fall. On Federal Reserve personnel matters, he expects the Walsh hearing to proceed as scheduled next week and is confident that Walsh will assume the role of Fed Chair in May, while expecting Powell not to remain as a Fed Governor. Hassett emphasized that interest rates should be lower, and the Fed's balance sheet reduction should be gradual. (Jin10)