All articles tagged with #kevin hassett
CNN's Jake Tapper pressed former Trump adviser Kevin Hassett on his bullish claim that traffic through the Strait of Hormuz would soon return to normal, noting the waterway remains largely closed amid Iran tensions. Hassett hedged, saying prices should fall once the gulf situation is resolved, but Tapper challenged the timeline as gas prices hover near $4 a gallon.
White House economist Kevin Hassett argues July’s dismal payrolls can be dismissed by excluding sectors that lost jobs and focusing only on gains, but the broader Bureau of Labor Statistics data show a fragile, patchy labor market with declines in local government education and mixed manufacturing signals, challenging the idea of a strong economy despite some private-sector growth.
White House economist Kevin Hassett told ABC’s This Week that media coverage overemphasizes any single price drop or rise and urged Americans to judge inflation by looking at real wages and other broad indicators, noting rising employment and profits that support wages, even as energy prices (including gas) spike amid regional conflict.
CBS News' Face the Nation with Margaret Brennan for May 24 features White House National Economic Council Director Kevin Hassett, Democratic Sen. Chris Van Hollen, former White House Coronavirus Task Force Coordinator Dr. Deborah Birx, a bipartisan panel of Rep. Mike Lawler and Rep. Josh Gottheimer, and Medal of Honor recipients Lt. Col. William Swenson and Sgt. Maj. Matthew Williams, moderated by Nancy Cordes. The program airs at 10:30 a.m. ET on CBS News and streams at 12:30 p.m. ET on Paramount+ and CBSNews.com on Sundays.
California Gov. Gavin Newsom accused the Trump administration of “celebrating” Americans paying more for gas after Chief Economist Kevin Hassett suggested rising credit-card spending, citing AAA data that the national average is about $4.54 per gallon and California averages around $6 per gallon (with some areas higher). The rhetoric drew in critics like Bernie Sanders and Elizabeth Warren, who argued that higher spending benefits banks and harms working people.
National Economic Council director Kevin Hassett slammed a New York Fed tariff study as an embarrassment and urged those behind it to be disciplined, arguing the paper misstates who bears tariff costs as US firms and shoppers shoulder most of the burden; the clash comes as tariff litigation goes to the Supreme Court and the Fed debates how to respond to inflation amid rate policy uncertainties.
National Economic Council Director Kevin Hassett slammed a New York Fed study claiming roughly 90% of Trump’s tariffs are paid by American consumers and businesses, calling the paper “the worst” Fed research and arguing its analysis seats an incomplete picture by focusing on price effects while ignoring import-volume changes and supply-chain shifts. The article notes the NY Fed team measured tariff burdens by average duty relative to imports and that Hassett’s critique comes amid broader political tension around Fed independence and leadership, including Trump’s nomination of former Fed governor Warsh for the chair role.
Trump economic adviser Kevin Hassett called a New York Fed tariff study "embarrassing" and urged the authors be disciplined after the research found U.S. importers bore about 90% of tariff costs, a result that contradicts the White House narrative; some economists say the findings align with standard analysis, while the NY Fed remains independent.
White House economic adviser Kevin Hassett criticized a Federal Reserve Bank of New York study that found U.S. companies bear most of the costs of tariffs, calling the research an embarrassment and urging the central bank to punish the researchers behind it.
President Donald Trump suggested Kevin Hassett could remain as head of the National Economic Council, injecting uncertainty into the race to succeed Fed Chair Jerome Powell. Analysts say Warsh could gain momentum, with other candidates still in play, while political and legal developments—like a DOJ probe related to the Fed building—could affect Senate confirmations.
Some officials in the Trump administration are privately questioning Kevin Hassett's suitability for the Fed chair position, citing his limited influence on policy and leadership style, despite his extensive credentials and support from some allies. The decision remains uncertain as Trump considers other candidates amid economic challenges and debates over the Fed's direction.
Kevin Warsh has become the leading candidate in prediction markets to be the next Fed chair, surpassing Kevin Hassett amid internal doubts within Trump's circle about Hassett's closeness to the president, with recent market shifts reflecting increased uncertainty in the nomination process.
Kevin Hassett, a top contender for Fed chair, emphasized the Fed's independence and stated that President Trump’s opinions would have no weight in setting interest rates, despite Trump’s desire for influence. Hassett expressed willingness to discuss with Trump regularly but clarified that the final decision rests with the FOMC, which votes collectively. The nomination process remains open, with other candidates like Kevin Warsh also in consideration.
Bond investors have issued a warning to the US Treasury regarding the potential appointment of Kevin Hassett as the Federal Reserve Chair, citing concerns over financial stability and market impact.
Kevin Hassett, a prominent economist and former Trump advisor, is a leading candidate to replace Jerome Powell as Fed chair, with support from Trump and prediction markets, but faces criticism for perceived political bias and willingness to align with Trump's policies, raising concerns about the Fed's independence and market stability.