White House economic advisor: Will not replace Fed Governor Cook, supports interest rate cut stance

White House economic advisor Kevin Hassett stated that he would not succeed Lisa Cook if the Federal Reserve Board member were to be removed from her position due to related allegations.

Hassett mentioned that the allegations against Cook are matters under investigation by law enforcement and expressed, "I hope Cook is innocent." Previously, Cook had been challenging the Trump administration's attempts to remove her from her position as a Federal Reserve Board member.

Regarding monetary policy, Hassett indicated that if he were involved in decision-making, he would lean towards maintaining the current interest rate levels or implementing rate cuts. He believes that inflation in the United States is easing, while the growth momentum on the supply side remains strong, providing room for a more accommodative policy environment.