Powell Can Decide Own Future, NEC's Hassett Says

• Hassett views Jerome Powell's continued presence on the Fed board after his chairmanship as 'unusual' and contributing to a 'partisan' voting pattern.
• He believes that a 'Jay Powell Fed' would have hiked rates into the election, implying a negative view of past Fed actions.
• Hassett sees federal funds futures indicating no future rate hikes as a 'positive sign' of progress, suggesting a preference for stable or lower interest rates.

Kevin Hassett, White House National Economic Council Director, discusses the Federal Reserve's composition and interest rate policy. He suggests that Jerome Powell's continued presence on the board after his chairmanship is unusual and has led to a partisan voting pattern. Hassett expresses confidence that future Fed actions, potentially influenced by Kevin Warsh, will lead to stable or lower rates, which he views as positive.