Hassett: U.S. inflation still requires attention, respect for the Federal Reserve's independence is essential

In a media interview on Monday, Hassett said: "If you look at the data from the previous three months, inflation seemed to be completely under control; but now, it appears that inflation has returned to a state where further efforts are needed to address it."

Data released last week showed that US consumer prices in September rose at the fastest pace in five months, and a measure reflecting underlying price pressures also came in higher than expected. The CPI increased by 0.6% month-on-month; excluding food and energy prices, core CPI rose by 0.3% month-on-month.

Hassett stated: "This may signal an interruption in the downward trend of inflation, or it could just be a temporary fluctuation."

Last week, Federal Reserve Chair Kevin Walsh did not dispel market expectations that the Federal Reserve will maintain interest rates unchanged at the end-of-month meeting. During a dialogue at the International Monetary Fund (IMF) annual meeting, Walsh did not comment on monetary policy or the US economic outlook, but only reiterated the Federal Reserve's goal of achieving price stability.

Hassett said that he respects the Federal Reserve's independence and stated that Walsh will "do what he thinks is right."

Hassett also said: "People are very optimistic about the strong performance of the US economy, and consumer spending is also increasing. Of course, this is exactly what the Federal Reserve needs to pay attention to."