Forex
Hassett Hails Strong US Inflation Numbers, Criticizes Fed Confusion
US inflation numbers have been fantastic, according to White House National Economic Council Director Kevin Hassett. He attributes this success in part to the administration's actions to minimize the impact of the oil shock.
Hassett notes that waving the Jones Act has helped to reduce the effects of the oil price increase. However, he also criticizes the Federal Reserve for creating confusion with its inconsistent messaging and changing forecasts.
The NEC Director emphasizes the importance of sticking to economic data and avoiding political discussions. He questions the value of bringing in a task force to improve the Fed's forecasting abilities, suggesting that it may not lead to better predictions.