Kevin Hassett Says He Would Accept Fed Chair Nomination—Calls for December Rate Cut

(Seoul=Yonhap Infomax) Yong Wook Kwon – Kevin Hassett, Chairman of the White House National Economic Council (NEC), stated that despite stronger-than-expected September employment data, the Federal Reserve (Fed) should proceed with an interest rate cut next month.

In an interview with Yahoo Finance on the 20th (local time), Hassett said, "A robust jobs report does not mean the Fed should pause rate cuts." He emphasized, "It would be unwise to assume that strong employment figures are sufficient to offset other factors."

Hassett also warned that the negative impact of a government shutdown would exceed expectations, predicting a significant blow to the economy in the fourth quarter.

In a separate interview, Hassett indicated he would accept a nomination to succeed Jerome Powell as Fed Chair if offered.

Meanwhile, Jim Bianco, CEO of Wall Street firm Bianco Research, recently projected that Hassett is a leading candidate to become the next Fed Chair.

ywkwon@yna.co.kr

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