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2026-07-30 22:22:52
[White House Economic Advisor: Cooling Inflation Supports Fed Decisions] White House National Economic Council Director Kevin Hassett stated that the latest inflation data makes Federal Reserve Chairman Kevin Warsh's decision-making process "easier." In an interview with Bloomberg Television, Hassett pointed out that Warsh will act strictly based on economic data and reiterated his "absolute" confidence in Warsh. Data from the U.S. Department of Labor showed that the personal consumption expenditures (PCE) price index, which the Fed closely monitors, fell 0.1% month-over-month in June, the first negative month-over-month growth since 2020; the year-over-year increase fell from 4.1% to 3.7%, and the core PCE year-over-year increase fell to 3.3%. Hassett believes that the cooling inflation data provides a clearer basis for the Fed's policy path. When discussing the Fed's independence, Hassett emphasized that he is "very, very optimistic" that the Fed's future policies will move in the right direction, namely maintaining a nonpartisan and independent stance.
