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Hassett: The IME conversation is not meaningless; Powell is not expected to remain as a board member.
ME News report: On April 14 (UTC+8), U.S. White House National Economic Council Director Hassett believes that U.S.-Iran dialogue is not meaningless, and the U.S. is cooperating with Iran on a potentially major agreement. Despite the outbreak of war, he still expects the U.S. economy to maintain 4% to 5% growth this year. Regarding the policy agenda, he hopes the reconciliation bill can be completed before June and plans to study a second reconciliation bill in the autumn. Regarding Federal Reserve personnel matters, he expects the Walsh hearing to be held next week as scheduled and is confident that Walsh will become Federal Reserve Chair in May, while also expecting Powell not to remain a Federal Reserve Board member. Hassett emphasized that interest rates should be lower, and the Fed’s balance sheet reduction should be gradual. (Source: Jin10)