Ex-Chairman of the Council of Economic Advisers Kevin Hassett talked to Larry Kudlow on Thursday after the horrific losses on the stock market.
The Dow was down below 30K points for the first time since the Biden inauguration.
Join The True Defender Telegram Chanel Here: https://t.me/TheTrueDefender
Hassett stated that the Fed has to increase interest rates by ¾ points until the end of this year before inflation starts to come down from the current historical rates.
Kevin Hassett: I’m very, very pessimistic on where rates have to go given how bad fiscal policy is under the Democrats. Basically, you’re going to be looking at rate hikes every meeting this year of 0.75… I think we’re probably more than halfway to the bottom, but the bottom is still a ways off.
Hassett doesn’t paint a rosy picture.
The Dow Jones ended below 30 000 points at 29,927 on Thursday over fears of recession.