Hassett stated that he still expects the Federal Reserve to cut interest rates after Wesch takes over as chairman.

2026-04-08 05:58:42

U.S. National Economic Council Director Kevin Hassett said on Monday that even though energy costs have surged, he still believes the Federal Reserve will be able to cut interest rates.

Hassett said in an interview that once the supply shock brought by oil has passed, technology-driven productivity gains will curb inflation and create room for the Federal Reserve to support the economy with a more accommodative monetary policy.

He said that the push driven by capital expenditures and artificial intelligence “will put downward pressure on inflation, thereby easing the Fed’s pressure. They should be able to cut rates, and I expect that this will happen once my friend Kevin Worsch takes office.”

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