Fed Chair Candidate Hassett Says December Rate Pause Would Be 'Very Poor Timing'

Kevin Hassett, White House National Economic Council Director and a potential Fed Chair candidate named by Trump, said on Nov. 21 that pausing rate cuts in December would be 'very poor timing' for the central bank, Jin10 reports. Hassett projected the government shutdown would reduce fourth-quarter GDP by 1.5 percentage points, while noting September CPI data showed inflation performing better than expected. JPMorgan withdrew its forecast for a 25-basis-point Fed rate cut in December on Thursday evening, following Morgan Stanley, with both banks now anticipating the next cuts in January and April.