White House National Economic Council Director Hassett: It is time for the Federal Reserve to cautiously cut interest rates.

Kenneth Hassett, Director of the U.S. White House National Economic Council: It's time for the Federal Reserve to cautiously cut interest rates.

He stated that the impact of the government shutdown is greater than expected. Nevertheless, the economy is expected to achieve a stronger rebound in the first quarter of next year. Productivity in 2026 may reach 4%. If the economic growth rate in the first and second quarters (next year) is 3%, it would be disappointing.

At the same time, he said that the development speed of the artificial intelligence economy is faster than that of the internet economy in the 1990s.

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