Hassett: The Fed has ample room to cut interest rates significantly.

Hassett, the White House National Economic Council director and a leading candidate to become the next Federal Reserve chairman, said on Tuesday that he believes the Fed has "ample room" to cut interest rates significantly. When asked if he would push for the "significant rate cuts" Trump hopes for if appointed, he responded, "If the data shows we can do that—like now—I think there's absolutely room to do it." When further pressed on whether this meant a rate cut of more than 25 basis points, he answered unequivocally, "Yes."