Hassett on Powell Staying at Fed, Inflation and Oil Spike

• Hassett is critical of current Fed policy and looks forward to new leadership, suggesting that the Justice Department's inquiry into the Fed should lead to de-escalation.
• He argues that strong economic data, including a capital spending boom and low unemployment, indicates a robust economy, and that the energy price spike is temporary.
• Hassett believes it would be a 'policy error' for the Fed or ECB to hike rates, as lower rates could 'supercharge' the economy and boost residential investment.

National Economic Council Director Kevin Hassett expresses disappointment with current Fed policy under Jerome Powell, advocating for lower interest rates to boost the economy. He believes the recent oil shock is temporary and that strong underlying economic data, coupled with a productivity boom, should keep core inflation under control, making rate hikes a policy error. Hassett also criticizes European energy policies and Iran's regime.