White House National Economic Council Director Kevin Hassett says he has full confidence in Federal Reserve Chairman Kevin Warsh after the central bank decided to keep rates unchanged. Speaking on &quot;Bloomberg Open Interest,&quot; Hassett also weighs in on current inflation levels and says he doesn&#x27;t see markets in bubble territory because of AI.<br>See omnystudio.com/listener for privacy information.

White House NEC Director Kevin Hassett Talks Fed Chairman Warsh, Market

Bloomberg Talks

[SPEAKER_03] This message is brought to you by Apple Card. Apple Card lets you earn daily cash back on every purchase, every day. Applying the Wallet app on iPhone today. Subject to credit approval, Apple Card is issued by Goldman Sachs Bank USA Salt Lake City Branch. Terms and more at applecard.com. Bloomberg Audio Studios. Podcasts. Radio. News.

[SPEAKER_01] Welcome to our global TV and radio audiences. I'm Dani Berger alongside David Gurra. Data showing the U.S. economy grew at a weaker than expected pace while the Fed's preferred inflation gauge cooled in June. Let's bring in White House National Economic Council Director Kevin Hassett. Kevin, we can talk about the state of this economy in just a moment, but I want to begin with what you discussed yesterday. Yesterday before this Fed decision saying that you have full confidence in Chair Kevin Warsh.

[SPEAKER_01] Now it is a market that is rethought that is losing confidence with long-term yields pushing at their highest in more than two decades. And at the same time, economists giving counsel that they don't think that they are fully confident in this Fed either. Director Hassett, do you still have full confidence in Fed Chair Warsh?

[SPEAKER_05] Of course. Of course. And there's a natural transition time where a new leader comes in and tries to get the House in order. I think that there were three dissensions or three dissents, but that happened to Jay Powell in the past as well. The dissents all came from regional Fed presidents, not from the actual governors. And so it sounds like he's got his House in Washington in order. And we'll look forward to seeing how it's going forward.

White House NEC Director Kevin Hassett Talks Fed Chairman Warsh, Market

Read the full transcript

The candid version is on a podcast,
not the earnings call.

White House NEC Director Kevin Hassett Talks Fed Chairman Warsh, Market

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.