White House Shows Flexible Stance on Fed Rate Hike Possibility

Kevin Hassett, chair of the White House National Economic Council, said the administration would '100% support' whatever decision the Federal Reserve makes on interest rates. This marks a more flexible stance from the White House regarding the possibility of additional Fed rate increases. CryptoBriefing reported that Hassett made these comments during a CNN 'State of the Union' interview.

Hassett added that he and President Donald Trump believe there is no current justification for raising rates, though AP reported that Trump has previously called for lower rates. The Associated Press also noted that the Fed is scheduled to decide on its benchmark rate at its September 15-16 policy meeting, with market expectations of a potential hike following inflation data and recent comments from Chair Jerome Powell.