White House Chief Economic Adviser Hassett said that the end of the war with Iran could create room for the Federal Reserve to cut interest rates.

Kevin Hassett, the White House chief economic adviser to U.S. President Donald Trump, said he believes the eventual drop in oil prices will create room for the Federal Reserve to lower interest rates. Hassett stated on a program that the White House expects energy prices to decrease once an agreement is reached with Iran. Meanwhile, Trump also posted on social media that negotiations with Tehran are "progressing in an orderly and constructive manner." Hassett said, "We expect that once an agreement is reached, energy prices will plummet. At that time, the Federal Reserve will have significant room for interest rate cuts."