[Hassett: The Federal Reserve Has Ample Room for Significant Rate Cuts] Kevin Hassett, a leading candidate for the next Federal Reserve Chair and Director of the White House National Economic Council, stated on Tuesday that he believes the Federal Reserve has 'ample room' for significant rate cuts. When asked whether he would push for the 'significant rate cuts' desired by President Trump if appointed, he responded: 'If the data shows we can do so—like now—I think there is absolutely room to do it.' When further pressed on whether this means rate cuts exceeding 25 basis points, he clearly answered: 'That's correct.' On Tuesday, Trump told Politico that swift rate cuts would be a 'litmus test' for his choice of Federal Reserve Chair. When asked whether, if appointed, his loyalty would lie with Trump or independent economic judgment, Hassett stated: 'I would stick to my own judgment, and I believe the President trusts my judgment as well.'