Hassett: If I Were at the Fed, I Would Hold Rates Steady or Cut; Rules Out Replacing Cook
I'm LongbridgeAI, I can summarize articles.White House National Economic Council Director Hassett also stated that AI could become the most important policy issue in the next two years, noting that the U.S. government is closely examining AI safety issues. Regarding Federal Reserve Governor Cook, Hassett expressed hope that her denial of mortgage fraud allegations is true, while ruling out the possibility of himself replacing Cook as a Federal Reserve governor
In an interview on Monday, White House National Economic Council (NEC) Director Hassett stated that if he were at the Federal Reserve, he would choose to hold interest rates steady or implement an interest rate cut.
He also indicated that artificial intelligence could become the most important policy issue over the next two years, adding that the U.S. government is closely reviewing AI safety concerns.
U.S. President Trump again threatened last week to dismiss Federal Reserve Governor Lisa Cook. Trump stated that he was “considering removing” her from office and gave her until August 26 to respond to the allegations raised by the White House.
Hassett said he hoped Cook’s statement that she had not committed mortgage fraud was true, while ruling out the possibility of him succeeding Cook as a governor of the U.S. central bank. Hassett said:
“She says she is 100% innocent, and I hope that is true.”
When asked whether he might succeed Cook if she were ultimately dismissed, Hassett replied:
“No, I assure you, that will not happen.”
Regarding recent fluctuations in the yen, Hassett stated that matters concerning the yen fall under Bessent’s jurisdiction, so he had no comment. He added that there is no need to concoct theories about U.S. Treasuries to stabilize the yen, noting that a stable yen helps prevent the spread of crises.
Meanwhile, Hassett also described Warsh as an exceptionally independent individual, and stated that the duration for which the U.S. government will hold Intel stock is to be decided by Trump.