White House National Economic Council Director Kevin Hassett said that the newly released inflation data “made the decision-making process easier” for Federal Reserve Chairman Kevin Walsh. In an interview with Bloomberg TV, Hassett pointed out that Walsh will take appropriate actions based strictly on economic data, and reiterated his confidence in Walsh “of course.” According to data from the US Department of Labor, the personal consumption expenditure price index that the Federal Reserve focuses on fell 0.1% month-on-month in June, the first negative month-on-month increase since 2020; the year-on-year increase fell from 4.1% to 3.7%, and the core PCE fell to 3.3% year-on-year. Hassett believes that the cooling of inflation data has provided a more clear basis for the Federal Reserve's policy path. When talking about the independence of the Federal Reserve, Hassett stressed that he is “very, very optimistic” that the future policy of the Federal Reserve will move in the right direction, that is, maintain a non-partisan and independent position.

White House National Economic Council Director Kevin Hassett said that the newly released inflation data “made the decision-making process easier” for Federal Reserve Chairman Kevin Walsh. In an interview with Bloomberg TV, Hassett pointed out that Walsh will take appropriate actions based strictly on economic data, and reiterated his confidence in Walsh “of course.” According to data from the US Department of Labor, the personal consumption expenditure price index that the Federal Reserve focuses on fell 0.1% month-on-month in June, the first negative month-on-month increase since 2020; the year-on-year increase fell from 4.1% to 3.7%, and the core PCE fell to 3.3% year-on-year. Hassett believes that the cooling of inflation data has provided a more clear basis for the Federal Reserve's policy path. When talking about the independence of the Federal Reserve, Hassett stressed that he is “very, very optimistic” that the future policy of the Federal Reserve will move in the right direction, that is, maintain a non-partisan and independent position.