Kevin Hassett, Director of the White House National Economic Council, made a series of intensive statements on economic issues on Friday. He defended the latest non-farm payroll report, calling it "in line with expectations," and noted that the decline in government employment while other sectors saw increases indicates that "our policies are working."
On energy, Hassett disclosed that the U.S. Navy has opened the Strait of Hormuz, with crude oil passing through normally, and previewed more energy announcements next week. He also revealed that the White House is communicating with Europe regarding diesel supply, stating that if Europe releases strategic reserves, it would have a "huge impact."
Regarding interest rates and debt, Hassett acknowledged that current interest expenditure levels are "unacceptably high," but emphasized that the White House respects the independence of the Federal Reserve, that President Donald Trump "takes deficit reduction seriously," and explicitly stated that he "does not want to inflate away the debt."
White House's Hassett: September non-farm payrolls "in line with expectations," US Navy has opened the Strait of Hormuz, Donald Trump is serious about cutting the deficit.
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