Group 1 - The core viewpoint of the article emphasizes that the Federal Reserve should base its decisions on economic data rather than pre-announcing specific interest rate paths, as stated by Kevin Hassett, the Director of the National Economic Council [1] - Hassett indicated that the current target range for the federal funds rate is between 3.75% and 4%, and there is a strong market expectation for a 25 basis point rate cut in the upcoming meeting [1] - He praised Jerome Powell for successfully coordinating opinions within the Federal Open Market Committee (FOMC) to reach a consensus on the rate cut, despite initial disagreements among members [1] Group 2 - Hassett reiterated that investments in artificial intelligence could lead to a positive supply shock similar to the computer technology boom of the 1990s, which would allow the Federal Reserve to maintain a hotter economy [2] - He noted that the bond market has improved significantly since the beginning of the year, with a decline in yields since 2025, although some volatility remains due to uncertainty surrounding the Federal Reserve's actions [2] Group 3 - Regarding the position of Federal Reserve Chair, Hassett expressed willingness to assist if chosen, while market expectations for future rate cuts have decreased, with predictions now suggesting two rate cuts in 2026, down from three previously anticipated [3] - The market reacted negatively to Hassett's comments, with major stock indices closing lower, indicating a more hawkish tone than expected [3]

Group 1 - The core viewpoint of the article emphasizes that it is "irresponsible" for the Federal Reserve to announce a specific path for interest rate policy over the next six months, highlighting the need for decisions to be based on economic data [3][4] - Kevin Hassett, the Director of the White House National Economic Council, believes that the Federal Reserve should continue to adjust rates cautiously while closely monitoring economic data, indicating a consensus for a rate cut this week [3][5] - The market's expectations for future Federal Reserve easing actions have decreased, with the latest predictions suggesting two rate cuts by 2026, down from three cuts anticipated a month ago [5] Group 2 - Hassett reiterated that investments in artificial intelligence could lead to a "positive supply shock" similar to the computer technology boom of the 1990s, which allowed the Federal Reserve to maintain a slightly hotter economy [4] - He noted that the bond market has "significantly improved" compared to earlier this year, with a decline in yields since 2025, although some volatility remains due to uncertainty surrounding the Federal Reserve's upcoming actions [4] - The probability of a 25 basis point rate cut at the upcoming Federal Reserve meeting is nearly 100%, as indicated by futures markets [3]

Core Viewpoint - The article criticizes Jerome Powell, the current Chair of the Federal Reserve, suggesting he may become the worst Fed Chair in history due to his refusal to lower interest rates despite significant economic data urging him to do so [3][4][5]. Group 1: Historical Context - The article compares Powell's potential failures to those of past Fed Chairs, such as Arthur Burns, who maintained low interest rates leading to rampant inflation during the 1970s [5]. - It also references Alan Greenspan's misjudgment of the tech boom and subsequent aggressive rate hikes that contributed to the 2001 recession and the housing bubble that led to the 2007-2008 financial crisis [6]. - Ben Bernanke's failure to recognize systemic risks in the mortgage market is highlighted, suggesting that Powell's lack of an economics background may lead to similar oversights [6][7]. Group 2: Powell's Tenure - Powell's tenure began with a promise to support the economy, but he aggressively raised rates during a period of low inflation and high growth, which is viewed as a significant miscalculation [8]. - The article notes that Powell's actions have contributed to a sharp economic slowdown, with GDP growth expectations dropping from over 3% to 1.5% as a result of his policies [8].

Core Viewpoint - Peter Navarro criticizes Jerome Powell, suggesting he may become the worst Federal Reserve Chairman in history if he continues with tight monetary policy despite data suggesting a need for rate cuts [2][3][4]. Group 1: Historical Comparisons - Navarro compares Powell to past Federal Reserve Chairmen, including Arthur Burns, who maintained low interest rates leading to inflation, and Alan Greenspan, who raised rates unnecessarily, contributing to the dot-com bubble and subsequent recession [4]. - Ben Bernanke is mentioned for failing to foresee the 2008 financial crisis, which escalated due to his inaction [5]. Group 2: Powell's Tenure - Powell's tenure began with a commitment to a supportive stance, but he aggressively raised rates during a period of low inflation and high growth under Trump, misjudging the economic impact of tax cuts and deregulation [4][6]. - In 2018, despite moderate inflation and a strong labor market, Powell's Federal Reserve raised rates four times, leading to a significant slowdown in economic momentum, with GDP growth expectations dropping from over 3% to 1.5% [6].