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Hasset: The IMF dialogue is not meaningless; the Federal Reserve should taper gradually.
ME News report: On April 9 (UTC+8), White House National Economic Council Director Hassett said that U.S.-Iran dialogue is not meaningless. 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 grow by 4% to 5% this year. On the policy agenda, he hopes the reconciliation bill can be completed before June and plans to study a second reconciliation bill in the fall. 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 governor. Hassett emphasized that interest rates should be lower, and that the Fed’s balance sheet reduction should be gradual. (Jin10) (Source: ODAILY)