Kevin Hassett, chairman of the National Economic Council, asserted that the economy is improving significantly as people continue to worry about a looming crisis.
President Donald Trump said that” a small disturbance” will probably result from prolonged tariffs on Mexico and Canada, which raised concerns about a further economic downturn. Hassett defended the risk of taxes, which may start on April 2, and cited the positive outcomes that have resulted from them.
” In the event of a recession, business creation, right, and capital expenditures are among the first things that go down. Capital expenditures are increasing. The business sector is expanding rapidly. Due to the DOGE savings and the way that they are affecting long-term interest rates, loan rates are currently falling by a full percentage point. So far, the business is currently experiencing a lot of good news. Everyone is concerned about possible harm from tariffs, but what I’m seeing are tangible gains, Hassett said, “is that the capacity to increase that is enormously large, and everyone is moving their auto production up to the U.S.
Another White House officials have mostly avoided making any speculative comments about the potential for a slowdown in the country, with White House deputy chief of staff Stephen Miller and Treasury Secretary Scott Bessent making the rounds when questioned in conversations.
STEPHEN MILLER DISMISSES” Pronouncements” ON IMPENDING Crisis
Hassett pointed out that there were “more manufacturing work” reported earlier this month when the Bureau of Labor Statistics released a mediocre employment record. In February, the market added 151, 000 work.
The White House estimates that the 25 % tariff will still apply to 50 % of imports from Mexico and 62 % of those from Canada, including energy products.
