Trump Economic Advisor Haselt: Inflation Still Needs Attention, Respect Fed Independence

Kevin Hassett, Director of National Economic Council at the White House, stated that prices for goods such as beef and eggs are falling, but September consumer price data indicates that overall inflation still requires policy attention. Speaking on Monday, Hassett said: 'If you look at the previous three months, inflation seemed fully under control, but now it appears we need to put in more effort.' Federal Reserve Chair Jerome Powell last week did not dampen market expectations that the Fed would hold interest rates steady at its meeting at the end of this month. At a discussion during an IMF annual meeting, Powell reiterated the Fed's commitment to achieving price stability but offered no comments on monetary policy or the U.S. economic outlook. Hassett expressed his respect for the Fed's independence, stating that Powell will 'do what he thinks is right.' (Sina Finance)