Hassett: Rate Cut Still Needed Despite Strong Jobs Report

Kevin Hassett, director of the presidents National Economic Council, argues that the Federal Reserve should cut interest rates next month, despite stronger-than-expected job growth in September. He believes the recent government shutdown will significantly impact economic growth, making a rate cut even more crucial. Hassett also points out that inflation in September was better than anticipated, supporting a rate cut. He emphasizes that the strong headwind from the shutdown makes it imprudent for the central bank to hold off on cutting rates, despite the positive jobs numbers.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.