Forty minutes before the release of the FOMC decision statement, "shadow Federal Reserve Chairman" Hassett reiterated that there is still significant room for interest rate cuts

Kevin Hassett, Director of the National Economic Council at the White House, stated: The futures market expects the Federal Reserve to cut interest rates by 25 basis points.

A 25 basis point cut would be a small step in the right direction.

He reiterated the view that the Federal Reserve has ample room for rate cuts.

Federal Reserve Chairman Powell engaged in extensive "negotiations" to achieve a 25 basis point cut.

You can definitely cut rates by 50 basis points, or even more.

Given the strong data, a 50 basis point cut can be assured