WH Economic Advisor Hassett: There is more room than a 25 basis point cut | investingLive

The White House economic advisor Hassett is speaking and says:

• Plenty of room for the Fed to cut rates
• Says that there is a play room to cut more than 25 basis points.
• Pres. Trump will make a choice but could change his mind
• Says that it’s important for the Fed chair to look at data.
• Says that Treasury Secretary Bessette is at the top was for running the Fed, but he does not want the job.
• If Fed chair, would make decisions based on his judgment. Says Trump trusts that.
• Labor growth is a little slower than it has been

What’s particularly interesting right now is the intense focus on economic data. Critics such as Miran and Bessent argue that the current Federal Reserve is not forward-looking enough, saying policymakers should be anticipating economic shifts rather than reacting to them. In contrast, Kevin Hassett’s is now aligning more closely with the Fed’s existing framework—including the oft criticized Chair Jerome Powell, who repeatedly emphasizes that the Fed remains data-dependent in setting policy.

Betting markets still support Hassett. On Polymarket, traders currently assign Hassett a 76% probability of becoming the next Fed leader—down from about 88% yesterday, but still firmly in the lead. Kevin Warsh, by comparison, sits at roughly 12%, suggesting market confidence remains strongly tilted toward Hassett despite recent volatility.