White House Economic Advisor Predicts ‘Liftoff’ for U.S. Economy Amid Trade, Tax Policy Progress
White House National Economic Council Director Kevin Hassett said Monday that the U.S. economy is poised for a significant surge, citing strong job growth, robust investment figures, and the anticipated resolution of trade and tax policy uncertainties, as per Fox News.
“There are going to be a lot of trade deals, and there’s going to be clarity on the tax cuts. Once that happens, firms are going to take off,” Hassett told FOX Business.
Even ahead of those developments, Hassett pointed to encouraging signs, including a sharp rise in business investment. “First quarter capital equipment investment was north of 20 percent—one of the best quarters ever—because all of America knows a golden age is coming. We’ve got to start building before everyone else jumps in,” he said.
Hassett projected that the second half of 2025 could see economic growth exceeding 3 percent—and possibly 4 percent—making it “one of the better years we’ve ever had.”
“Despite the uncertainty, we’re already seeing strong jobs numbers and strong investment. Once that uncertainty lifts, we’re looking at a real economic liftoff,” he added.
The comments come just days after Moody’s Ratings downgraded the U.S. credit rating, citing ongoing federal deficits. Hassett pushed back on the downgrade during an appearance on Mornings with Maria, calling it a “backward-looking” assessment.
“Secretary Bessent said it’s penalizing us for the reckless spending of the Biden administration. But we’re cutting spending, deregulating, and promoting supply-side growth. We have every reason to believe we’ll soon have the best economy on Earth,” Hassett said.
He added, “If you’ve got the best economy on Earth, you’re going to have the best debt on Earth, too. That’s how I’d rate it.”
