[Federal Reserve Chair Candidate Hassett Warns: December Pause in Rate Cuts is 'Very Bad Timing'] BlockBeats News, November 21, on Thursday evening local time, JPMorgan Chase followed Morgan Stanley in retracting its forecast for a 25 basis point rate cut by the Federal Reserve in December. The bank still expects the next rate cuts to occur in January and April of next year. However, Kevin Hassett, one of the Federal Reserve chair candidates named by Trump and the Director of the White House National Economic Council, stated earlier that day that for the world's largest central bank, pausing rate cuts at this moment would be 'very bad timing,' as the government shutdown has already dragged down economic growth in the fourth quarter. He predicts that the government shutdown will lead to a 1.5 percentage point decline in fourth-quarter Gross Domestic Product (GDP). Meanwhile, he pointed out that the September Consumer Price Index (CPI) showed inflation performing better than expected. (Jin10)