Kevin Hassett, Director of the U.S. National Economic Council (NEC), disclosed in an interview with CBS’ Face the Nation on Monday that he holds regular discussions with Federal Reserve Chairman Jerome Powell.
Hassett dismissed concerns that these meetings aim to influence interest rate decisions, emphasizing that Powell’s independence remains intact. However, he noted that the president’s perspectives on economic policy can still be communicated.
He pointed to a decline in long-term interest yields, citing a 40-basis-point drop in 10-year Treasury yields, which he interpreted as a signal that markets anticipate lower inflation.
In response, the U.S. Dollar Index (DXY) hovered near a two-week low of 106.57, down 0.07% on the day, as investors assessed the implications of Hassett’s remarks.
Related Topics:
