Kevin Hassett, the National Economic Council Director, expressed optimism on Monday regarding the United States’ economic outlook and trade relationships. In an interview with Fox Business, he revealed that over a dozen countries have made “really terrific” and “incredible” trade agreement offers to the U.S. All of which points to a very optimistic future for international trade.
Hassett’s remarks come as Democrats have been sounding alarms over possible insider trading by the White House. Responding to these allegations, he firmly stated, “There was no insider trading at the White House.” His claim is intended to address anxieties about market manipulation as Congress has begun to look more critically at stock market and economic activity over the past few months.
Hassett envisions an idyllic economic scene. He cautioned, let’s look at how good the recent U.S. jobs report data is — “really, really good.” Indeed, this appraisal seems to fit with the record high stock market indices registered on that same day. He pointed to lots of anecdotal evidence suggesting that jobs data is going to be “through the roof.” This further emboldens his faith in a resilient labor market.
Hassett assured everyone that we should all stop worrying about a looming recession. He promised that the U.S. would be “100% not” in a recession this year. With great confidence he has promised us that the future is looking rosy all the way to 2025. He recently declared there is “zero chance” of recession over that period. His confidence is rooted in fruitful conversations with some of the country’s biggest business execs. They’ve shown a clear commitment to relocate their out-of-country production back home to the U.S., thanks to positive trade policies.
Along with economic benefits from trade negotiations and new job growth, Hassett said there’s something to be said for consumer behavior—behavior indicating anxiety about future tariff intentions. He pointed out that consumers are increasingly purchasing foreign goods as a precaution against impending tariff changes, indicating a proactive approach to their spending.
Hassett’s comments come at a critical juncture. The administration clearly wants to accelerate economic recovery but do so while walking this tightrope of political pressures and evolving market appetite. His bright-eyed, bushy-tailed outlook could do a lot to soothe jitters among investors and policymakers all at the same time.
“There was no insider trading at the White House.” – Kevin Hassett
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