Kevin Hassett, director of the White House National Economic Council, said the United States does not want to reduce its debt burden through inflation and described the current level of interest payments as unacceptable. He said the president is taking deficit reduction seriously. Hassett also said Warsh still has to deal with the situation left by Powell, calling it highly unusual. On rates, he said the rise in U.S. Treasury yields reflects a strong economy, while adding that he respects the Federal Reserve’s independence. He also pointed to strong U.S. consumer data and said holiday-season spending is expected to remain solid. The remarks were carried by Jin10 and reposted by BlockBeats.
BlockBeats reported on Oct. 2 that Kevin Hassett, director of the White House National Economic Council, said Warsh still needs to deal with the situation left by Powell, calling it 「very unusual」.
Hassett said the United States 「does not want to inflate away its debt」 and described the current level of interest payments as 「unacceptable」. He added that the president is very serious about reducing the deficit.
He also said rising U.S. bond yields reflect a strong economy and added that he respects the Federal Reserve’s independence. Hassett said data shows U.S. consumption remains very strong, that holiday-season spending is expected to be strong, and that there is a lot of good news this week.
The remarks were cited from Jin10 and reposted by BlockBeats.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
