Kevin Hassett at the WSJ CEO Council last December: "Suppose that inflation has gone from, say, 2½ to 4, you can't cut rates then." [Transcript] Poppy Harlow: So let's play out a scenario here. We know where the president stands on rates. He makes it very clear very often. If you do become the Fed chair, Kevin, and he pressures you both privately but publicly on Truth Social or says it—and your economic judgment is rates should not be cut. Now what do you do? Kevin Hassett: You just do the right thing. Poppy Harlow: What's the right thing? Kevin Hassett: Well, the right thing is—if you think, like—what is the judgment? So suppose that inflation has gone from, say, 2½ to 4, you can't cut rates then.[crosstalk] I guess I could envision a computer model where there's such a huge positive productivity shock that you'd get away with it, but it's just very implausible.(Nick Timiraos)