White House National Economic Council Director Kevin Hassett dismissed the idea of a recession looming this year, countering some Wall Street forecasts of an economic downturn resulting from
Asked on Fox Business Monday whether he's expecting a recession this year, Hassett responded, "100% not — 100% not." He pointed to "very strong jobs numbers," after data earlier this month showed an acceleration in payroll gains.
"Everything's through the roof, anecdotally, with the CEOs I've been talking to," Hassett said. "When I talk anecdotally to the CEOs, I say things like, 'Well geez is the uncertainty over tariffs looking like it's going to be a big drag?' — and they're saying things like, 'No, in terms of production, we're getting as much onshore as we can.'"
The NEC head also said, with regard to tariffs and trade negotiations, that there are "more than 10 deals where there's very, very good, amazing offers made to us." He didn't specify which trading partners had made those offers or provide a timeline for finalizing those agreements.
"The president will decide when he's satisfied with the deal and when he wants to announce it, and how many all at once. But I can tell you, the progress has been astonishing," he added. "One question that I have open in my mind is, should we go one at a time, or should we announce a bundle all at once?"
Hassett did not specify which approach he favored.
