White House officials speak out: Hassett says PCE data makes things "easier" for Waller, Navarro urges the Federal Reserve to consider a rate cut

Kevin Hassett, Director of the White House National Economic Council, said in an interview that the inflation data released on Thursday has made Federal Reserve Chair Walsh’s job “a bit easier.”

When asked if he still has confidence in Walsh, Hassett replied, “Of course.” He stated that Walsh will make appropriate decisions based on the data.

Hassett said, “I am very, very optimistic that the future direction of Federal Reserve policy will be the correct one, namely maintaining a non-partisan and independent course.”

On the same day, White House trade advisor Peter Navarro said, if the current market trend continues, the Federal Reserve should consider lowering interest rates.

According to a previous article by Wallstreetcn, the U.S. PCE Price Index for June fell by 0.1% month-on-month, marking the first monthly decline since 2020, while the year-on-year increase narrowed from 4.1% in the previous month to 3.7%. The core PCE, excluding energy, rose by 3.3% year-on-year, a slight drop from 3.4%, and increased by only 0.1% month-on-month, below the market expectation of 0.2%.