Kevin Hassett: Falling oil prices may create space for the Federal Reserve to cut interest rates

According to Golden Ten Data on May 25th, Kevin Hassett, the Chief Economic Advisor to US President Trump, stated that the decline in oil prices will provide space for the Federal Reserve to cut interest rates. He said that once an agreement is reached, energy prices will plummet and the Federal Reserve will have enough space to take action. He emphasized respect for the independence of the Federal Reserve and praised Kevin Walsh's appointment as Federal Reserve Chairman. Hassett pointed out that Iran's closure of the Strait of Hormuz has pushed up US fuel prices, but core prices have remained almost unchanged, and a decrease in energy prices could lead to negative inflation.