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

Odaily Planet Daily News 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 fall quickly." He further added, "When that happens, the Fed will have plenty of room to take the right action with lower interest rates." Trump also said on social media on the same day that negotiations with Tehran are "progressing in an orderly and constructive manner." (Jinshi)