White House National Economic Council director Hassett said on Monday he hopes
Fed governor Cook is innocent and declined to comment on any charges, calling it
a law-enforcement matter. He said he would not replace Cook if Cook were
removed. Hassett added that, were he on the Fed board, he would favor keeping
rates unchanged or cutting, citing strong supply-side forces and recent
inflation prints showing prices easing. He described Fed chair Kevin Warsh as
famously independent.
