The "potential" new chairman of the Federal Reserve, Hassett, is expected to cut interest rates by 25 basis points next week.

Kevin Hassett, Director of the White House National Economic Council, stated that the Federal Reserve should cut interest rates at next week's meeting, and he predicted a decrease of 25 basis points. Hassett made this statement during a media interview when asked if he believed the Federal Open Market Committee would lower rates next week. "I think we should cut rates, and I think we might do so," Hassett mentioned recent comments from Federal Reserve governors and regional bank presidents, saying, "they seem to be leaning towards a rate cut now." Hassett also said that he hopes to eventually "bring rates down to much lower levels." "If the consensus is 25 basis points, and it seems that it is now, then I accept it," he continued.