Kevin Hassett, Director of the White House National Economic Council, stated that U.S. core inflation is "at or below target levels," giving the Federal Reserve "ample room" to cut interest rates.
Speaking on Fox Business on Friday, Hassett noted, "As far as we can tell, on a three-month moving average basis, core inflation is basically at or below target right now."
He added, "I expect inflation data to remain around current levels."
Hassett also emphasized that the Fed's decisions must be data-driven. "It would be unwise to commit to rate levels for June or July at this point," he said.
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