Powell Can Decide Own Future, NEC's Hassett Says

As long as we're picking on your boss, he has said recently that uh it is not Kevin uh Kevin Warsh's fault that interest rates are going up. He's got a uh Democratic uh liberal uh Fed board that is against Donald Trump. Uh do you agree with that and uh has he given up on the idea uh or his demand for lower rates?

You know, I I know that uh Kevin Warsh uh has a sort of unusual circumstance to manage, which is Jay Powell in what I view as a highly partisan move has refused to resign and he's staying there. And so there's basically a majority of Democrat appointees who have in the past voted to increase interest rates or re reduce interest rates in a partisan pattern. And so Kevin's going to manage that. He's going to fix the problem and we have really, really high confidence that he'll do that. And I think that right now, if you look at Federal Funds Futures looking at the data and saying that you know, we don't think the Fed's going to move in the future. I think that's a real positive sign of Kevin Warsh making progress because I think the a Jay Powell Fed would have hiked rates right into the election like they've done before.

Do you believe that um, Powell should be on the board? What what is your view on that, Director Hassett?

Well, well the the history of it is that a chairman when his term is up leaves in part to help a new chairman be successful. So you see that in corporate America when there's a new CEO, the old CEO doesn't sit in the room next to him.

Should should the White House have a role in that Director Hassett?

No, it it's the decision for Jay Powe right now.