White House Chief Economic Advisor Hassett: Falling Oil Prices May Open Room for Rate Cuts

Odaily reports that White House Chief Economic Advisor Kevin Hassett said in an interview with Fox News that once the United States reaches an agreement with Iran and energy prices fall, the Federal Reserve will have greater policy room to lower interest rates.

He pointed out that the White House expects energy prices to drop significantly after an agreement is reached. Hassett stated: “We expect that once an agreement is reached, energy prices will decline rapidly.” He further added, “When that happens, the Fed will have a lot of room to take the right actions with lower rates.” On the same day, Trump also said on social media that negotiations with Tehran are “proceeding in an orderly and constructive manner.” (Jin Ten)