White House's Hassett says 25 bp Fed rate cut is more realistic

Kevin Hassett, Chairman of the White House National Economic Council (NEC), said the Federal Reserve is unlikely to cut interest rates by 50 bp, calling a 25 bp reduction more realistic. Hassett added that while he would likely support a rate cut if he were on the FOMC, he believes Chairman Jerome Powell is unlikely to do so. He also stated that he would accept the position of Fed Chair if it were offered to him.