White House Advisor Hassett Will Not Replace Cook, Supports Rate Cut Stance

White House economic advisor Kevin Hassett stated that he would not take over the position if Federal Reserve Governor Lisa Cook were to be removed from her post due to related allegations. Hassett mentioned that the allegations against Cook are matters under investigation by law enforcement and expressed hope that Cook is innocent. Cook has previously challenged the Trump administration's attempts to remove her from her position as a Federal Reserve governor. Regarding monetary policy, Hassett indicated that if he were involved in decision-making, he would prefer to maintain current interest rates or implement a rate cut. He believes that inflation in the U.S. is easing, while growth momentum on the supply side remains strong, providing room for a more accommodative policy environment.

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