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Trump's adviser Hassett urges the Fed not to raise interest rates.

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Jinse Finance reports that on July 1, two weeks after Warsh took office as Fed Chairman, a senior economic advisor to Trump hinted that the White House might not welcome any interest rate hikes. The Fed's preferred inflation gauge is currently above 4%, and Warsh emphasized that reducing it to 2% is non-negotiable. But in an interview with Fox Business on Wednesday morning, White House National Economic Council Director Hassett warned that raising interest rates to curb price increases would be a mistake. Hassett argued that the economy is in a "supply-driven boom." He pointed out that Warsh holds a similar view, which he emphasized when running for Fed Chairman last year. "In this context, raising interest rates is just a macroeconomic mistake," Hassett said. U.S. President Trump has repeatedly criticized former Fed Chairman Powell, accusing him of keeping interest rates higher than Trump expected. Over the past few months, Trump has repeatedly stated that he would give Warsh greater autonomy to formulate policies based on his own judgment. However, Hassett's remarks on Wednesday suggest that the White House still has strong opinions on how the Fed sets its policies.
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