White House's Hassett: U.S. Inflation Still a Concern, September CPI Month-over-Month Rise of 0.6% May Require Further Federal Reserve Efforts
White House National Economic Council Director Kevin Hassett stated on Monday that despite price declines in commodities such as beef and eggs, the U.S. September Consumer Price Index (CPI rose 0.6% month-over-month, core CPI rose 0.3% month-over-month) indicates that overall inflation still requires policy attention. He noted that this could signify an interruption in the disinflationary trend or merely a temporary fluctuation. Hassett also expressed respect for the Federal Reserve's independence, stating that Chairman Warsh would "do what he thinks is right," while also mentioning that the strong performance of the U.S. economy and increased consumer spending are factors the Federal Reserve needs to consider.
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