White House Chief Economic Advisor Hassett: Falling Oil Prices May Open the Door 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 space to lower interest rates.

He pointed out that the White House expects energy prices to drop significantly after an agreement is reached. Hassett said: "We expect energy prices to fall rapidly once an agreement is reached." He further stated, "When that happens, the Fed will have plenty of room to take the right action with lower interest rates." On the same day, Trump also stated on social media that negotiations with Tehran are "progressing in an orderly and constructive manner." (Jinshi)