Hassett says 'plenty of room' for Fed to cut rates

 United States National Economic Council (NEC) Director Kevin Hassett claimed on Wednesday that there is "plenty of room" for the US Federal Reserve to reduce its interest rates.

"Because [US] President [Donald] Trump's team is giving people early retirement and so on, and the [US Department of Government Efficiency] DOGE movements early in the spring, we've reduced federal government employment by 360,000 people. That's the lowest share of the labor force that's working for the government since 1966. And what that means is that $29 billion, this year, less will be spent on the government salaries, so that helps reduce the interest rates and balances the budget," Hassett told MS NOW in an interview.

The NEC director also noted that today's nonfarm payrolls report showed that fears of the potential negative effect of artificial intelligence on employment were unfounded.

https://breakingthenews.net/Article/Hassett-says-'plenty-of-room'-for-Fed-to-cut-rates/65649910