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Hassett: The Imai dialogue is not meaningless; Powell is not expected to remain as a board member.
ME News Report, April 14 (UTC+8), White House National Economic Council Director Brian Deese believes that U.S.-Iran dialogue is not meaningless, and the U.S. is cooperating with Iran on a potentially significant agreement. Despite the ongoing war, he still expects the U.S. economy to grow by 4% to 5% this year. Regarding policy agenda, he hopes the reconciliation bill can be completed before June and plans to study a second reconciliation bill in the fall. Concerning Federal Reserve personnel issues, he expects the Walsh hearing to be held as scheduled next week and is confident that Waller will become Federal Reserve Chair in May, while also expecting Powell not to remain as a Federal Reserve Board member. Deese emphasized that interest rates should be lower, and the Fed’s balance sheet reduction should be gradual. (Source: Jin10)