National Economic Council Director Kevin Hassett dismissed recession fears in the US, highlighting strong job growth and CEO insights amidst tariff concerns. Despite uncertainties over trade policies, CEO feedback indicated that companies are proactively managing production risks and consumer demand is high. President Trump's administration's recent decision to pause certain tariffs has positively influenced stock market performance. Trump acknowledges potential transition difficulties with new tariffs but remains optimistic that these changes will lead to beneficial long-term outcomes for the US economy.
When I talk anecdotally to CEOs, I say things like, 'Well, jeez, is the uncertainty over tariffs looking like it's gonna be a big drag?' And they're saying things like, 'No, in terms of production, we're getting as much onshore as we can.'
If you look at the jobs numbers, they're very, very strong," Hassett explained. "So everything's through the roof.
There'll be a transition cost and transition problems, but in the end, it's going to be, it's going to be a beautiful thing. We're doing again, what we should have done many years ago.
The best definition of intelligence is the ability to predict the future!!!" the 78-year-old wrote in all caps on Truth Social.
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