Hassett: The latest CPI report is surprisingly good; the Fed has significant room to cut interest rates.

White House National Economic Council Director Hassett welcomed the November CPI report, saying the U.S. economy is showing signs of high growth and declining inflation. He stated, "I'm not saying we're declaring victory on the price issue, but this is a surprisingly good CPI report." Hassett noted that wage growth is outpacing price growth, American taxpayers will see large tax refunds next year, and the government will help lower mortgage rates. He added, "The Fed has significant room to cut interest rates." Hassett, a leading candidate to succeed Powell as the next Fed chairman, also stated that the Fed should be more transparent in the future. "I think the Fed must double its transparency. Whoever leads the Fed should lay all the cards on the table so we can figure out what's really going on at that institution." (Jinshi)