Hasseb said the market's bet on the Federal Reserve raising interest rates is "wildly off base."

Kevin Hassett, director of the White House National Economic Council, said that investors interpreting the strong May employment report in the United States as a signal that the Federal Reserve must raise interest rates this year is wrong. When asked about the market's pricing of a Fed rate hike, Hassett said, "I think that view is way off base." Hassett pointed out, "What you need to pay attention to is the impact of oil price shocks on core inflation, and history shows that these shocks are temporary and will not lead to sustained inflation." His "advice to the Fed" is to closely monitor all data. He said, "You will see that with a significant expansion on the supply side, the economy can achieve high growth without leading to runaway inflation."