35 Burst results for "Kevin Hassett"

"kevin hassett" Discussed on KGO 810

KGO 810

03:15 min | 1 year ago

"kevin hassett" Discussed on KGO 810

"The holidays this year That's 41% Last year it was 31% So even though we were in the midst of the crisis last year it's even worse right now This is crazy Unemployment is only 4.6% and it's falling Americans have two and a half $1 trillion in savings More than if there was no pandemic at all The median U.S. household has 50% more money in the bank than in 2019 before the pandemic began And yet despite all of this 68% say the economy is getting worse It's not getting worse It's getting better Why do you think it's getting worse There's more pessimism now than there was in April of O 9 Remember April of O 9 that was the depths of the credit crisis And by the way both Republicans and Democrats feel this way It isn't a political party issue All Americans are feeling like the market really stinks at the economy is really terrible The S&P 500 is up 27% so far this year Congress is about to pass a $1.2 trillion infrastructure Bill There's going to be another two and a half trillion to come after that Why is everybody feeling that everything is so bad In fact the Dow just hit an all time high 36,000 There was a book written of that title you might recall Dow 36,000 The book was written by James Glassman and Kevin hassett back in 1999 They said back then that the stock market should be worth 36,000 They said it would happen within a few years It took 22 years Thank you Jim Glassman was a columnist for The Washington Post later the undersecretary of state for George W. Bush hassett was the chief economic adviser for Donald Trump I had him on the radio show here just last month They were rather early in their prediction and that's kind of my point You know there's a joke in economic circles When you make predictions offer a price or a date but never both in the same sentence Yeah they were right They were just early In other words investing is something you do for the long term Eventually the Dow will hit the highs My prediction still stands We're going to see a Dow Jones Industrial Average of a 150,000 I'm also putting a date on it 2040 Yeah about 20 years from now That's just assuming a 10% average annual rate of return which is by the way the average annual return of the stock market since 1926 according to if the Dow produces a 10% rate of return it'll double about every 7 years well we have three doublings between now and a 150 Right now the Dow 36,000 You double it once In 7 years that puts it at 72,000 You double it again And another 7 years That puts it at a 140,000 That's only 14 years You double it again in another 7 years and you're a 280,000 That's assuming a 10% return If you only get a 7% return which is 30% less than what the stock market has actually performed over the past hundred plus years you're going to be at a 140,000 by 2040 Of course past performance is.

James Glassman Kevin hassett George W. Bush hassett U.S. Donald Trump Congress The Washington Post
"kevin hassett" Discussed on 77WABC Radio

77WABC Radio

06:08 min | 1 year ago

"kevin hassett" Discussed on 77WABC Radio

"Here's Larry Kudlow. Welcome back, folks. I'm Larry Kudlow. This is the Larry Kudlow show and continue. It's an honor to be present broadcasting. On this commemoration day remembering 9 11. We're going to bring in my brother Steve Moore from FreedomWorks and Committee to unleash Prosperity Hotline and all things that are good. Uh, Steve, I know you're You've got a show coming up after mine. Um, a very interesting point made by investor Jim Yuria. I don't know if you know, Jim, or you've probably seen him. Nice is terrific. But we were talking about 9 11 and just on it narrower point But his point was, um 9 11. The government response. Certainly the economic response. Was, uh, big government policies. Bigger government and I chimed in. You know, that's an interesting point. Because From Reagan to 9 11. We had smaller government policies. We have less taxing. On the whole less spending, certainly domestic venting and and fewer regulations. That 9 11 was a turning point. And since 9 11 We've had, you know, much less than historic economic growth, productivity growth. We had a nice run up in real wages after the trump tax cuts, Uh, but the point is, sort of like the ideology changed. And we seem to be, you know, backs more than ever with what Newt calls big government socialism. On big government prevailed. Well, that I think there's a lot there. And in fact, I would refer people, um, your listeners to the front page story in the New York Times. I think it was earlier this week and it said Cradle to grave Government is back. Yeah, yeah, And you know, they mention that you know everything from prenatal care, too. And all your healthcare all your education costs from pre kindergarten all you can relieve your student loans. Everything's gonna be paid for by Uncle Sam. And there is a real push to create cradle to grave dependency. I think I think You know the Democrats don't see anything wrong with that. Um, but you know, I would have one thing just because we do celebrate. Or commemorate, uh, 9 11 today. Obviously it is amazing. What was the doubt back? Uh, in 2000. Lot of you know, there he was probably 10,000 or something. Yeah, I'm good. I'm gonna look while we're talking because it's the stock market is way up since then, exactly exactly. And I just wanted to say that You know, don't ever bet against America, Right? Don't ever bet against America because you know we mentioned before on your show. Reagan came into office. But that was at 1000. And then I think it was probably discussing I think was around 10,000 or self in at the end of the you know the Clintons boom that we had the stock market. Side. Clinton was a genuine kind of limited government. You know what? Centrist Democrats? Um uh and now we're 35,000. So you know this we I just marvel at our businesses or entrepreneurs are CEOs that how great they are creating Companies and maintaining profits. If that's what we've been through 9 11, then the housing collapse. And, uh and then, of course, you know the Covid three incredible crises over the last 20 years and yet Our business is still figure out how to make money. You're right. I'm looking at a long term chart and It's a little hard to see. But I think around 9 11 and the Dow dropped. I think you're right to about 8000. So it closed at 6 34,007 on Friday. It's gotten as high as 35 a half 1000. I had Kevin Hassett and James Glassman on. Yeah, I was watching. There's a lot of fun. Uh and Ken Rogoff wrote the op ed piece. Uh, off is not a supply sider, but I was quite interested that he wrote that So America is despite it all you're saying Don't don't bet against America. Absolutely. But we do have concerns about the direction here. Do I mean cradle to grave is right. I mean, I kind of like the the sound bite from Newt Gingrich. You've got big government socialism. In Washington versus free enterprise capitalism, you know in the private sector, which will drive us to greater and greater so that battle is joined. And the question is, how is it going to turn out? Well, I think this is the issue of our time. I mean, the next three or four months as I've been saying, it's the war of the world. We have to stop this bill. You know, every time I look here, new details from my sources on Capitol Hill. I mean, the Democrats are literally every dig bad idea They've ever come up with the last 40 years in this bill, so there is paid parental leave and this businesses there is Step catching unrealised capital gains. At least they want to put that in the bill. They do want to get rid of right to work laws and funny. I mean, that's just little examples. And I think we have to defeat this bill because If this passes, we will be you and I and others will be spending the next 10 or 15 years trying to get rid of the damage. What it's a lot easier to keep something out of a building than to, you know to get once it's law Once it's law, for example, Eric if we pass paid parental leave, What do you think the chances to get rid of that? Never You have no becomes one of these entitlements. And that's the Democrat's strategy, by the way, what they want to do and health care. I mean, they basically want to nationalize the health care system. I saw you. I heard what you said about the price controls they want. Price controls are medical devices they want, you know, they want every single thing in the healthcare industry. They want price controls that which is really scary because the future of medicine is new innovation. And if you put price controls on these things that stunts.

Steve Moore Kevin Hassett Ken Rogoff Larry Kudlow James Glassman Jim Yuria Jim Steve Eric FreedomWorks 2000 Friday 35,000 Clinton Clintons Democrat 10,000 Democrats Newt Gingrich America
"kevin hassett" Discussed on 600 WREC

600 WREC

06:40 min | 1 year ago

"kevin hassett" Discussed on 600 WREC

"The Ric Edelman's show. We're talking about the elimination of income inequity and the ability to help all Americans create wealth. And joining me in this conversation, Kevin Hassett distinguished visiting fellow at the Hoover Institution and former chair of the White House Council of Economic Advisers in the Trump administration, along with Teresa Ghilarducci, professor of economics at the new school for Social Research. And a Bill Clinton appointee. So if we have tens of millions of Americans reaching ages 60 70 80 90, and they're out of money because they didn't or weren't able to save during their careers. The government's burden for caring for those folks will become insurmountable, so this is actually a far less expensive way to deal with this issue. Setting aside the humanity, which we could argue is even more important. It also is a family issue. Um daughters and and daughters in laws, adult daughters and daughters in laws have. I've had to bear the burden of taking care of an engine up for father Mother in law or their own parents. It's a burden for families to have to have Grandma move into, You know, a renovated garage, and Grandma doesn't want to do it. So it preserves the dignity of a families and adults to live independently and and form close. Um Voluntary family ties. We had mentioned my proposal as well, which is a wonderful companion concept. I take a different approach. As you both know, having being familiar with my proposal called Rise the retirement income security for everyone. Idea which instead of saying that we're going to provide a broad based availability of retirement savings for workers who currently don't have that opportunity, my premises. Why are we waiting for people to get jobs because they generally don't do so until they're in their twenties? Why don't we start providing for retirement as soon as babies are born and grab an extra couple of decades of compound growth? Because the sooner you start, the less you need to save in order to have an impactful amount of money, So give me your thoughts on the concept of creating a way to start saving for retirement upon birth. You actually hit something That was a really happy surprise for me Injuries that you can start a fund for people as soon as they're born and maybe throw a couple $1000 in it and then started, you know, really growing 20 years later, when they get a job, and and I think that's a great idea it that was something I think surprised Teresa right when I said you're really hearing To economists really coming from different political points of view and alliances and habits of mind and and connections. Coming together, wanting the same plan and seeing it from different points of view. And if there is any hope for bipartisanship, it will be exactly listening to each other and seeing the facets It's practical and reasonable that people at birth kind of have a little level playing field. Some kids coming to, you know, onto the birthing table with just debt behind them. Others come with the so called silver spoon and all honourable mint at birth or a baby bond or the right bond. There's a way that just have everybody starts in the same position. We do that anyway. With health care for Children for education for Children, Let's just try to close that wealth gap. But we also want a way for hard, um, working people when they've dedicated their lives to supporting their families group working for themselves or somebody else. Really good practical designed to save for their retirement and least that's what we've come up with. We hope that Congress refines it in their way with their own bipartisan discussions. And come up with something that supplements Social Security for everybody. And that's what you want. It makes a lot of sense. And through the efforts of the economic implement innovative group the EEG dot or we just talked about. They have a way of talking to a broad spectrum of of legislators. This Really is a national plan and requires a bold that will move and we're pretty hopeful that we'll hear. We'll have legislation informed this summer and public introduced in the phone. And Rick. The one thing that you've dedicated your life to is basically financial education, You know, basically teaching people about like, you know how to be financially savvy, how to invest in things and You know, improve their lives down the road and, um, something that I've done just personally with my family is I did something like this now, Of course, I'm fortunate to be able to Fund it myself. But for both of my boys when they were really young, I put a little bit of money in a investment account, and I told them they could do whatever they want with that money, but they can't take it out. And one reason I did it That is that I believe in efficient markets. And so I figured, you know how bad is their decision going to because they're paying like the market price for everything If they trade and you know they could see if they trade too much than their you know, eating up all their money with trading fees and things like that, but I think it really helps them become financially savvy. And, you know, I think they'll be better citizens because of that, And I think it would be great if kids had an account and they got a statement. And you know if they were like really good economic times because of great economic policies supported by either party, then folks would see that the money in their account was going up and they would start to see Basically a cause and effect that would create a positive political feed that for good policies. Well, I I hope the two of you have good success on your efforts on Capitol Hill of getting a proposal adopted and I'm hopeful as well that my rise proposal will get light of day as well. The message for everybody listening to us right now is that there is a lot of work being done by some very smart people. You're hearing from two of them right here, tackling one of the biggest economic challenges our nation faces. And I just want to say thank you so much to Kevin Hassett and to Teresa Ghilarducci for the work. You're doing the initiative you both undertaken and the collaboration that you've done together, breaching the political spectrum to get things done. And so I wish you both the very best and I'm so excited that you spend time with us here on the show. Thank you Rich..

Teresa Ghilarducci Kevin Hassett Teresa Congress Rick Bill Clinton Hoover Institution White House Council of Economi Capitol Hill two tens of millions Rich 90 twenties EEG dot couple of decades one reason $1000 Ric Edelman one
"kevin hassett" Discussed on News 96.5 WDBO

News 96.5 WDBO

02:54 min | 1 year ago

"kevin hassett" Discussed on News 96.5 WDBO

"Reduce your risk and come up with a plan that helps you capture gains but not at the risk of huge losses and let's just find out. Certainly our clients are participating in this, but for listeners If you want to find out what that looks like for your situation, all we have to do is have a sit down and a conversation You're going to share with us some information about where you currently are going to share with us about your income, income sources and retirement. That's maybe different than an employment going to share with us where your money is invested. Currently. Maybe it's a four Oh one k maybe some other places. We're gonna put all those pieces together for you. Show you how to come up with an income plan an investment plan a plan that's from a tax perspective efficient. We're going to call those pieces together for you and show you This is what you need to do to be successful in retirement. We would define that as maintaining your current Senate of living. Just as for inflation and taxes moving forward now, once you have that plan Again. Our clients know this but our listeners once you have that plan, what you're gonna realize as well, You have the ability to go do that on your own right. You can take our plan and go do those investments on your own. If you have a current financial advisor, you're welcome to take that to them and say, Hey, listen, these knuckleheads put together this entire financial plan for me, you know for free and I'm just going to bring it to you and you can do it, which is fine calls on it. Yeah. Little pickles in it, or if you want to have us do it for you. That's fine, too. But It starts with a phone call Kristen Even though you've saved well listening today, all these years working and investing 2030, maybe 40 years. It's likely that you are unsure of what your financial future is going to look like, because you're an expert at what you've been doing all these years. You don't have to go it alone. There is a team of people that can be on your side. Reach out now listening in and around Orlando 407270 1000. That's 407270 1000 have Mike and the team at Tallinn Wealth Management. Do the math for you. They can create a complete financial plan personalized on you, your family and your numbers at no charge. You can schedule that, too, by visiting guarding at your nest egg dot com. Mike, you work with a lot of federal employees. But that's not the only folks that you help and those of you that are not federal employees. You may not know about the TSP, but it's basically the federal government's version of a retirement savings account. Couple of top economists are suggesting that the TSP be made available to everyone. Former Trump Administration Economic advisor Kevin Hassett is one of those pushing for the plan. And he tells Yahoo finance. I think that this proposal to basically let all Americans are especially low and middle of the middle income Americans had access to the strip steak, explain. Could fundamentally alter both the welfare of people's bottom, but also the stability of society because of everybody's got a stake.

Mike Kristen Kevin Hassett 40 years 2030 Tallinn Wealth Management 407270 1000 Senate Orlando both today one Trump Administration nest egg dot com Americans Yahoo finance Couple of top
"kevin hassett" Discussed on 77WABC Radio

77WABC Radio

07:59 min | 1 year ago

"kevin hassett" Discussed on 77WABC Radio

"Right, Correct, correct. And if and if privates are what you say they're going to be in the second quarter. I believe that they will be strong like that. Then the argument is like you said the province of the mother's milk right so start could continue to go higher. My only question and now in the next month over over the earnings season is or is the market already discounting those great profits? So is it going to be Buy the rumor sell the news type of event, and even if it is, it's not going to be, you know, sell the news like the markets crash, the market was, the stocks will kind of turn a little bit Oh, packed. Digest the move and then continue. Continue advancing, especially if we don't get Any surprises at Jackson Hole. If we get what we expect we're getting then I think it's okay Jackson, all meaning the Fed meeting. Right, Correct. I I think you know what I think. The feds Jay Powell is doing a pretty good job right now. I think he's handling it. I think Mike was suggesting that earlier, uh I I think Jay Powell is doing They put out a cautionary word. It ain't forever. But at the same time that money supply argument is very interesting. The economy may be absorbed, absorbing the excess money and therefore reducing its inflationary potential. And one thing I just love About Jay Powell. He said. This was about two weeks ago, he gave a speech in front of a greenie some kind of little greenie conference. He said the Fed is not going to abide by climate change. He said. We're not. We're not. That's not part of our policies. We have our mandate from Congress, and we don't react to fiscal policy. I thought he was very brave. It may cost him his job. But I thought he was very brave. Michael Zane. And what are you buying here? I've got a great fun to do it yourself fund its ticker symbol. It's an E T. F key are key FX. It's got a little bit of everything, and it does great during Rocky times, and it's extremely cheap. No load. With PRP FX. Is that what you said? It's prp FX. Right. What's it? What's in there? Got some gold. It's got some Vanguard Gross mixed in it. It's got a little bit of short term bonds. It's the ultimate thing of generally what I criticized everybody for hedging. This is my ultra contrarian. Oh, zany in play writing that I'm true times. I really am a hypocrite stopped. Oh, Well, we are getting pretty lofty. You know, I keep kidding, too. Dear dear friends of mine, Kevin Hassett and James Glassman, who wrote a book about a dozen years ago called South 6000. And I keep kidding them. I keep asking him the commodity TV show or the radio. You're at 4 34,033 to getting pretty close. I admit the time it was low early, but whatever it's coming on the 36,000. Makes it look. The S and P 500 canto carry 40 to 80.74. It's a record. I mean, don't we think that's a big number? It is a big number, but I'm looking for 4400 by year end. I'm not saying we're going to go straight there in a straight line. I think over the summer we will have some pullback, but just a little bit. But I think by year end that's that's very much insight. What are you buying? So listen to two mix point Pave V, which is an HF that really focuses on infrastructure names. So any of these big companies that are going to benefit from a massive infrastructure play has been has been doing very well. I like the financials. I still like energy, and I love detectives rupture. I think Kathy Wood and her arche TF because it gives you without having to pick one or two names. She gives your broad exposure. I think her her analysis is greater performances and great so That's where I'm looking for opportunity, naturally rallied back nicely Talk about 30% the last month. She's a great lady. She's a great lady, You know? Did you know that she's um, a protege of art lifers? It doesn't surprise me. I did not know that. But she was long, long, long time she studied, Uh, she was in Arthur's classes way back at the University of Southern California business school. She actually worked at laughers for a while, and she's always been very, very close in the Laffer circle. That's why I know her very well. Yeah, I think she's great. Microbes any in Michael's any. Besides that our SATs fund you have. Is there anything else you're buying, whether interesting play and this? I'm sorry. I apologize. Guys. I never totally get away from my my sports focus, but I like Nike. Because they've been from the stocks a little pricey, but they're tremendously successful, much more than their rivals in their online selling. They've got a great path to doing that. It's been very successful lately. So I think, uh, that that's worth taking a look at as well. What's the deal just came out this week and Nike on Thursday Wednesday Thursday, there are just blew the roof off about Yeah, And I think there's still room in that because I don't quite think people understand how their business model is is changing. And don't forget. They took a Pretty sizeable hit not just the stock price, but certainly in public opinion, with all everything happening with China, and and this and that, and, uh, you know, but I I think that politics aside, I think that they're doing some very, very smart things and again within that industry When you look at him vs adidas and under armour and all those I think that They're the best of the bunch. Right now. You know, it's it's interesting. I read. So they have come under attack for allegedly producing Some of their stuff. I guess it's their clothing in the wigger region was the Jin Jiang Province in China, which is a big human rights issue of a major human rights problem. But the head of Nike whose name I can't remember he he defended it. He basically said, we're proud of what we're doing in China. And, uh, The reputational risk doesn't seem to be pulling them down those that's I guess that's the interesting part. You know, and they have very strong support with the NBA. A lot of the players there. Um and I think that that that helps with the brand I think the NBA is going to make more inroads in China and other places, and I think Nike is going to be to be able to take advantage of that, Um Again, you know? The political things that come out from time to time and how accurate you are and what's going on. Tough to say I am personally a big advocate of free trade. Uh, I'm not saying I'm an advocate of slave labor. The biggest thing I'd like us to see control with China's protection of intellectual property, right, right. I think that's that's That's the biggest issue in my view. Um So, Yeah, I like Nike a lot. So we are agreed. The Yankees need a left handed hitting shortstop. We are agreed there's Nike. Michael Michael. Zany in Ken Paul. Carry your both wonderful as you always are. Folks. I'm Larry Kudlow. We're going to take a quick break. And then we're going to look at money politics with Steve Moore and Liz Peek, Please stay with us. Been thinking about McDonald's all day. Can't get it off my mind. I can already toasted Got my mind on my mouth and my mouth ready for some Mickey.

Steve Moore Kevin Hassett James Glassman Liz Peek Michael Zane Larry Kudlow Kathy Wood adidas Congress Nike Michael Michael Jay Powell 40 Mike Michael one McDonald's Jin Jiang Province Zany P 500
"kevin hassett" Discussed on Uncommon Knowledge

Uncommon Knowledge

01:44 min | 1 year ago

"kevin hassett" Discussed on Uncommon Knowledge

"A trump economists well a former trump economist. What did the trump administration truly accomplish. And what does the biden administration. Think doing tyler. Goodspeed on uncommon knowledge. Now welcome to uncommon knowledge on peter robinson tyler. Goodspeed holds an undergraduate degree a master's degree and a doctorate from harvard. He studied at cambridge and oxford taught at king's college london and has published three volumes on economic history in two thousand seventeen. Dr feed joined the trump administration's council of economic advisers and during the final year of the administration. He served as ca acting chairman. Dr goodspeed is now fellow of the hoover. Institution tyler. Welcome it is the way of the pandemic that you and i happened to be in the same building. Your downstairs and i'm upstairs but at some point at some point it would be lovely to meet in person. Here's the first question for you as i understand it. You join the trump administration by giving our friend. Kevin hassett than the director of the council of economic advisers. A cold call and saying hire me. All right take that whole hold. That thought in mind and let me repeat a piece of your resume. Undergraduate degree. Harvard master's degree harvard doctoral degree. Harvard tyler mother. Harvard is not known as a look of support for donald j.

Kevin hassett peter robinson donald j. trump goodspeed feed Harvard first question tyler three volumes council of economic advisers king's college Goodspeed harvard london trump administration of economic advisers oxford biden two thousand seventeen
"kevin hassett" Discussed on 77WABC Radio

77WABC Radio

06:57 min | 1 year ago

"kevin hassett" Discussed on 77WABC Radio

"To great pleasure this to both of you. I will, uh, solicit comments. But last night on the Uh, Fox Business show. We had distinguished investment strategist Jeffrey Kleintop. I think you guys probably know him. It's been around a long time. Very, very smart guy. So let me just read you this quote. Thursday's CPI report. May be old news. Inflation pressures have been receding for a month now. A key reason for the shortage is contributing to the recent surge in prices. His supply chain bottlenecks. Port traffic has been congested, impacting delivery times, which are the most delayed in decades. But as virus restrictions are loosened throughout. Uh, there has been a rebound in supply supply chain bottlenecks easing the C P may have peaked. For example, the port of Los Angeles, the most congested in the world, had 40 container ships waiting to unload. At the peak in Q one. 30 ships in late April. 20 in late May, and now it's down to close to 10. That suggests products such as semiconductors are getting to the manufacturers and easing price pressures. And then finally Finally He says commodity prices are falling to never big fans of free markets. Over the past month. China's policymakers, including Premier League Case strong have focused their messages and actions on reining in the surge in commodity prices. They've raised trading limits fees and margins on commodity markets. Okay. That's Kleintop. That there is what I call Uh, That's a contrary view if there ever was a contrary view. Because of the inflation hysteria going on now. So I'll begin with you, Jim, your eo. Has inflation peaked is the CPI old news? Well, I'm not ready to be in that camp just yet. But what I will say is that that the market, particularly bond markets, seemed to agree with him. I have, you know, for my notes for this show. All I have written in front of me is Thursday was huge. Try to figure out what happened. And the point I'm trying to make is that rates spiked up right after we saw that print and the rest of the day rates trended lower, finished the day lower. So what I will say is that the bond market agrees with him. I can go to the bond market. I think Jeffrey Kleintop is very, very bright guy and I love hearing him Break it down like that. So just yesterday, I said the movement in the bond market was not indicative that they believe in the transitory stuff. What it's saying is that the Fed probably has greater control of the yield curve and the and the global Central banks probably have greater control and can push yields lower when they want, But I guess to make a long story short, I guess I'm starting to to have some hope. That perhaps he's right because the bond market seems to agree that it's transitory. Maybe it was supply driven most of it or much of it the whole time 10 year Closed yesterday at 1 45. The dollar index was actually up slightly, so it's holding on the D xy at 90.5. And the 10 year break evens. Tips Breakevens 2.34 and the five year five year forward inflation is 2.23. What's so interesting here? Also, David Bronson is Uh, Some commodity prices are still rising, but you know what lumber prices have collapsed. Down 30 35% and, uh, clients up by the way, has a whole bunch of charts on this stuff. Most of the other stuff, let's see Lumber has collapsed. Iron has gone down. Now it's flattened out. Uh, steel has flattened out. Wheat has flattened out. Uh, corn prices. Also way down from the peak could have flattened out so he makes a point And I must confess I missed Commodity prices, which everyone's been looking at, Um have you know at the at a minimum stopped rallying and maybe are falling. What do you think? Well, as you know, very I've been in that camp for quite some time. And I think that when you looked at, uh, particular commodity price, that's why I'm feeding you this chump. I'm feeding you this job. Yes, This is low hanging fruit and and you know, it's funny. We do it. What Jim says that he had written down that Thursday was huge. I pulled out my calculator and did every Thursday since the financial crisis and I was going to say 676 Thursdays have been huge because that's the bond. The bond yield moving down For 13 years and, Oh, that's fabulous. Happy at at the end of the day. I think Jim's becoming right. And Jeffrey was already right. And I think that you and I have been right on this very There are bad policy things going on. But I don't understand why a lot of folks on the right are focusing on inflationary pressures that have leased a very heavy chance approving transitory. When there are so many more egregious policy errors that are not transitory, including the most unforced error I've ever seen with this federal unemployment. Our continuation. A man I told client top that I really wanted him on the show because I finally found someone who agreed with me. Uh, No, but I'm still getting pounded. Uh, you know Kevin Hassett and Larry Lindsey and you know a lot of people. All right? And look, I love Hassett and love Lindsey, and they're very smart. But, um in my gut, I think the policy errors out there are gonna be now Look, Jim, Muriel, if these guys get through With their gigantic tax hikes. Uh, they're going to choke off the recovery. And if the Fed keeps printing free money that is an inflation prescription. So there is that risk, And we're keeping an eye on that risk..

Larry Lindsey Kevin Hassett Jeffrey Kleintop David Bronson Jim Lindsey Muriel Los Angeles yesterday 2.23 13 years Jeffrey Hassett 10 year Thursday 2.34 40 container ships 90.5 five year CPI
"kevin hassett" Discussed on WTVN

WTVN

06:29 min | 1 year ago

"kevin hassett" Discussed on WTVN

"Be lower down in the future? Do you believe that Social Security, Medicare, Medicaid and interest on the national debt are not gonna impact Your tax bill. Seriously? I mean, I really think now is the time that if you're a hard worker and you're successful, you need to start planning ahead for your tax bill can be in the future because I believe with all my heart they are coming. After us With all the talk about President Biden's plan to increase the capital gains tax rate, knowing that it's not as cut and dry as it's been painted out to be. I'm inviting you to give Greg Kristen and the team a call. Of course, you'll speak to someone off the air. They'll just get some quick info from you, and they can set up a before and after tax analysis They do that as part of an overall portfolio X ray, But they can even just do that before and after tax analysis, so that you understand where you stand with taxes and retirement now and moving forward with all of these news headlines, 6143367660614336 766 year old and any time you can connect at Legacy retirement group dot com and set up that appointment virtually if you're not a federal employee, you may not know about the TSP, but it's basically the federal government's version of a retirement savings account. Now a couple of top economists are suggesting that the TSP should be made available to everyone. Former Trump Administration economic adviser Kevin Hassett is one of those pushing the plan and he tells Yahoo finance. This proposal basically led all Americans, especially low and middle income Americans had access to the trips and explain Would fundamentally alter both the welfare of people buying but also the stability of society, because if everybody's got a stake in the game, but everybody's happened when say markets are going up that we're all kind of pulling in the same direct Do you guys think it's time to revamp the way Americans save for retirement on a level like this? I believe the government needs to keep their Paul's their stinking hands out of our investments. I don't want to hear about any government sponsored Plan. The TSP is okay. I mean, there's only a few investment options within the TSP. But I don't want the government controlling they already control enough about our everyday life. They control so much of what we can and cannot do each and every day and some of that's for protection. I understand that, so there's some government oversight that's necessary, but For the most part. Don't don't mess with my investments. Whatever happened. The personal Responsibility. Whatever happened to okay if you want to save if you want to be prepared for your future. It's your responsibility to plan and save for your future every single week. Christian and I meet that middle class millionaire here in our practice. The family that worked really, really hard. They saved. Really? Really? Well, you know, I'm talking about people that never made three or $400,000 in a year. Some of them made less than $100,000 a year. Others you know, maybe made a couple $100,000 a year because they worked their way up. Just last week. I spoke to a guy on the phone. A tremendous guy and he began working for his company right out of high school. And he worked there and he worked in the warehouse. And then he got a promotion. He did something else than me. Then they train them to do something else. And then he learned something else. And then he applied for management training. And he took that training. And then he became a manager. Ernie had to move seven different times around the country toe bring himself up to where he was, and now he's right back in Columbus, where he started And has a tremendous income. He's done a great job of saving. He sat middle class millionaire, the people that we talk about on this show who worked really, really hard now. Yes, we work with doctors, and we worked with the attorneys and Dennis and professionals and business owners. And we enjoy helping each and every family that's worked hard and saved. Well, that's our passion. But These people took it upon themselves. It's their responsibility. I don't want the government telling me OK, you would rather buy a car is it is save. And you'd rather do this instead of saying that all the scene? Yeah. I mean, I'm thinking to several clients Gregg that we have that Made Less than $50,000 a year for most of their life. And they've saved in some cases a million dollars. I mean, I'm one case we have one that has saved over $2 million making that a year and so it's possible. It's not impossible to do so when we start looking at this, and then we talk about what we just talked about our last segment and say OK, because these people want a new car and they want a new house and they want to Have everything now and don't want to take the responsibility of saving Now we're going to punish the ones that did save really, really well. And figure out a way to make these people catch up. That's just not fair. That's not how our country America ended. No, there's not America. America is I'm going to take personal Responsibility now if someone gets to retirement And they have to live on Social Security because they didn't plan ahead is that the government's fault? It's not now do I feel compassion towards people? That's better struggling? Absolutely. And I don't ever want to seem inconsiderate. But on the other hand, it's not the government's job to make sure we save for our future. And so what do we do? If we did say for a future? I'm thinking about this gentleman that I just talked about who worked really, really hard. He saved really, really well. He worked for the same company all his career. 39 years he's worked for the same company. It's the American story. He worked really, really hard. He became successful. He's like, Okay, Greg. I knew how to work hard..

Greg Kristen Greg Ernie Kevin Hassett $400,000 Columbus 39 years Medicaid Dennis last week three Medicare over $2 million Gregg one case Social Security 766 year 6143367660614336 Legacy less than $100,000 a year
"kevin hassett" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

08:37 min | 1 year ago

"kevin hassett" Discussed on Bloomberg Radio New York

"On with Kevin, surly on Bloomberg Radio, honey, Miss Kevin, So, really, and I am the chief Washington correspondent for Bloomberg Television. For Bloomberg radio. You know, the other week I was at the Irish ambassador's residence. Daniel Mole home. He is the ambassador of Ireland to the United States of America. Daniel Mulhall has been on the shelf on Guy was talking him about trade between the two countries, and he actually brought up this issue of immigration. Into of Ireland and Irish immigrants are actually choosing Australia and Canada over the United States. My guest here Company Me with the Bloomberg political contributors. Rick Davis. Ingenious. Manzano is Congressman Brendan Boyle. He is a Democrat from Philly. And I believe the only member of Congress who has a parent From Ireland, and I get that right? I don't wanna mess that up, Congressman. Yeah, Now that that's right. My father was born and raised in Ireland. Came here is an immigrant when he's 19. Well, and you You've been really outspoken on issues pertaining to the U. S and a NIreland relationship. Relations on Why do you think it is that so many immigrants are choosing other countries is in this case, Ireland. Rather than coming to the United States. It's a very simple reason that it is almost impossible now to legally, um, immigrate to the United States from Ireland ever since the Immigration Act of 1965, and I'm going to attempt to give the very simple version Because I don't want to completely bored and turn off your listeners. But a long story short is an unintended consequence of the Immigration Act of 1965 is that it has made it extremely difficult. For folks from Ireland as well as other Western European countries to come here legally, so lot now Ireland's economy so much better. Obviously, immigration from there is a lot lower today than what it was. Hundreds of years ago. But that said, for those who do want to emigrate, they basically choose Canada, Australia or New Zealand. Very few come here on less. They tend to be in a Very technical or high school profession, Congressman Let's bring it back to your district. Who should the Eagles choose for their QB? I was waiting for the Carson Wentz question to come up. I can't hear it is it's Friday and the three I've got a three day weekend. You've got an impeachment vote, but you don't No, you don't. You're in. You're not in the Senate yet. But, you know, go ahead. I don't want to be too chatty if you can get if you can get a first rounder from the Bears or the coal and if they can throw in a conditional pick like a Ford Based on what benchmarks went his. I think that's probably the smartest move now. You guys sent a letter. The filly Filly delegation was Rick Davis told me sent a letter to the CDC about the inequities on the vaccination front. Why? Why are the vaccines? Why is there so much inequality with vaccine distribution? Yeah, This isn't This is an issue that affects Philadelphia but also basically every big city. So in most big cities, the daytime population is bigger. In the actual residential population. I mean, easy to figure out people come in to the city to work, and then we're going home to the suburbs. Well, it turns out the CDC formula is based on your official population. Lot of the vaccines that are being distributed in cities are being distributed to folks who may work here but not actually live here by one estimate, about half of the vaccines that have been distributed in Philadelphia Going to people who don't actually live in Philadelphia that also ends up stealing the sort of diversity pool of those were getting the vaccine. So what we've asked the CDC is look come up with a more accurate Formula. So that way you know those of us in Philadelphia but also other big cities aren't getting short changed. Congressman this Rick again? Thank you for that note because I think a lot of people are wondering as they sit around today, thinking what is the policy on vaccine distribution? And, um, I am being left out Or is there some other reason why we can't seem to get it done? Obviously, this has been a big week on the announcements of additional vaccine at the White House has purchased So hopefully that everybody can catch up to that. I want to return back to the stimulus plan if I can a little bit because I am kind of curious what you think about the politics of it. We've seen your bill passed on a straight line party vote. I'm kind of curious if you thought there was a chance to get Republicans On this bill, but also some of the Democrats are starting to peel off of the notion of a $15 minimum wage in the Senate. Do you think that can make its way through and be done on on a minimum wage increase? Yeah, the one on the first question. Um, look. I raised this in the 18 hour mark up that we were talking about Look at the polling of where the American people are, including a majority of Republicans. This bill has such high approval rating. I don't think I've ever seen the Thai approval rating for a piece of legislation. Over 80% of the American people support it, including a majority of Republicans. So it is a bipartisan bill. I hope that you will have Republican members of Congress who put partisanship aside. Go with where their own voters are now to the second question on minimum wage. I think it's pretty clear based on what the CBO determined this week that there is a budgetary impact and therefore you can use reconciliation. I think the challenge is you now have two Democratic senators who have said that they oppose either $15 minimum wage or oppose attaching it to the overall. Covert relief bill. I mean, the way I counted, then that's that most 48, So if you can't get the 50 than then what's the point? I hope we could get there. But perhaps this is an issue that will have to be there in the grass and subsequent legislation. And representative boil. It's Jeannie Zeyno again. And I love you talking about the Immigration Act of 1965, because it's one of the fascinating historical acts with ease untended consequences. But sticking with the stimulus package. How do you respond to criticism or concern? I should say from people who say if the bill passes close to $2 trillion That we will run the danger of inflation. How do you respond to that criticism? I'm 44 years old and their two things I've heard about in my lifetime that I've never seen. One is the Loch Ness monster and the others inflation. So I know the threat is another Irish illusion. I know. It's like I feel like I need a leper con to jump out or something going. It's Valentine's Day, not saying Patrick Go ahead. I don't want to piss off my Scottish constituents. Scotland get us, Um So look. I mean, is there the threat of inflation? Yes, but it's so hypothetical, as opposed the threat that is actually Right here Right now. You know, I would refer also people what chair Powell has said chair pal. Not to her palace, not Bernie Sanders or Elizabeth Warren he has made clear has have a large number of economists. Those in the centrist camp as well is in the progressive camp that this is the time to go big. If we're gonna error on one side, it needs to be going big and going bold. Congressman. I mean, when you hear from people like former Treasury Secretary Larry Summers, for example, I mean, they've all raised concerns. He's, for example, has raised concerns about potentially spending too much money. And you know some of your More moderate Republicans have also raise some of these concerns. Then they're talking about infrastructure. So what point does deficit become A concern. Look. First, I'll take Janet Yellen and J pal over Larry Summers. With all due respect, I would also point out even Trump. Economist Kevin Hassett has come out in favor of what we're doing here on a covert relief and going big in terms of in for infrastructure. Um, look, this is about as good a time to borrow and make investments as there's ever been. I mean, we literally have negative interest rates effectively when factored in the real return. So again, I come down decidedly on the side of going big and going cold. No, it's some point. We will have to turn to being concerned about the deficit and the debt..

Janet Yellen Daniel Mulhall Jeannie Zeyno Daniel Mole Rick Davis Brendan Boyle Bernie Sanders $15 Kevin New Zealand Republican Philly Rick United States Elizabeth Warren Kevin Hassett Immigration Act of 1965 Congress Bloomberg Television Powell
"kevin hassett" Discussed on KOMO

KOMO

03:41 min | 2 years ago

"kevin hassett" Discussed on KOMO

"I'm Jeff Pooja love big plans, but we're starting to see some big questions for the New Biden administration as it rolls out a new strategy aimed at addressing the Corona virus pandemic. Maybe season as delicate. Terra is in Washington, D. C, and she spoke with Cuomo's Tommy Hudler. Couple of days in there already some questions about the vaccination effort. Yes, the Joe Biden you know, setting this target of 100 million vaccinations in 100 days, and that's Raising some concern from critics who wonder whether one that's enough or whether that's too much whether he's being maybe a little bit too ambitious there. There's a concern among some administration officials that there just wasn't enough concrete. You know, Vaccine rollout plan to be able T do this. Some of them have argued that they feel they're they're having to start from scratch. When it comes to this vaccine rollout plan, but the White House indicating that they are no that that's their goal. They're planning to move full steam ahead. Joe Biden certainly emphatic that he will get 100 million vaccines administered in his 1st 100 days, and the White House continues to take steps aimed at addressing the financial impacts felt by many Americans as a result of this pandemic, So that was the focus today with the economy, you know that he finds you find a number of executive actions to help the economy there. You know, focus also on their covert 19 relief still, that they're gonna have tol through Congress that White House today was touting the fact that there is there seems to be at least early on some Republican support for this bill, the former President Trump's one of his top economic advisers, Kevin Hassett has come out to say that he thinks it's the bill is a good idea, even though it's it's a pretty In a corsage $2 trillion, which is obviously far more than Capitol Hill. Republicans would like to see but they are trying. Tolo. The White House is trying to send this message that there is bipartisan support for it on that. They're projecting confidence that they feel they can get it through Congress And as we had another confirmation today of in the White House cabinet, But the administration is working without hardly any Cabinet members. At this point. Where does that stand? And what impact might a second impeachment trial, which could begin next week have on that and the response To the pan of it. Yeah, it was really interesting to see Republicans today, you know, threatening to kind of throw some ice Earth rose over democratic priorities on ice because of this impeachment trials. I saw some Republicans like Lindsey Graham princes coming out to say that if Democrats want to move ahead with this impeachment effort that they are not going to be splitting the day, which was initially the idea that was being tossed around that they were concerned that lawmakers were just gonna be way too busy with the impeachment trial that they wouldn't be able to confirm some of the Bidens Cabinet nominees. So the idea that started circulating was maybe they could put their day maybe hold the trial in the morning and then take care of the confirmations in the afternoon. Some Republican they're coming out to say today that they don't think that's a good idea, which is, you know, just politics at play. They're saying they're kind of threatening not to split the day into which is interesting to see Emmett went and Joe Biden just now, actually. All those said that he supported a delayed impeachment trial. He kind of stopped himself short of saying that, But he there's a reporter who threw out a question about Mitch McConnell's timeline. Mitch McConnell has suggested delaying the trial to give President Trump or room to gear up for for the trial and tow lawyer up the dividing was asked about that, and he seemed to Onboard with with with with you know this idea of delaying the trial so that he would be able to get his Cabinet picks good for that's a bee season as they look to Terra and Cuomo's Tom Cutler. I have to take another quick break, but we'll have more of that. Come on politic. Asked.

Joe Biden White House President Trump Cabinet Congress Cuomo Mitch McConnell Jeff Pooja Kevin Hassett Washington Bidens Cabinet Lindsey Graham Tommy Hudler President Terra executive Emmett Tom Cutler reporter
"kevin hassett" Discussed on KOMO

KOMO

04:14 min | 2 years ago

"kevin hassett" Discussed on KOMO

"Moh news coming up on come on Brian Harris, with the mixed but optimistic covert outlook as vaccines meet variants. Recent protests sometimes violent in Seattle and Portland. I'm Sue Romero with how the Biden administration says it's handling it. Republican Democrat or unaffiliated. I'm Jeff Pooja, with the proposed changes to Washington's presidential primary. And the latest on weekend weather traffic to just four minutes away. President Biden urging Congress to put politics aside and passes $1.9 trillion covert 19 economic relief plan. Presence trumps Top former economic adviser Kevin Hassett, said quote He absolutely is in favor of this rescue plan. It's almost doesn't have a partisan piece to it. Mr. Biden then signed two executive orders one providing expanded food assistance that the agricultural Department and another which would start the requirement of federal KRON tractors to pay their workers. Ah $15 an hour minimum wage. Covert tracking project says while cases and deaths continue to rise nationwide Hospitalizations are beginning to drop opening arguments in the second Senate impeachment trial of former President Trump will begin the week of February. 8th senators will be sworn in as jurors next Tuesday, a day after House Speaker Nancy Pelosi sends over an article of impeachment. Charging Mr Trump with incitement of insurrection. Daria Aldinger, ABC News Co. Moh news 1000 FM 97 7 We continue with our top stories from the Comb. 0 24 7 news Center time Rick fan size and it appears a car caught fire, and that's would spread to the pumps of the Chevron gas station in north Gateway and Corliss this evening. Come. A listener saw the huge fireball when it happened. It was a lot of damage to the pumps in the canopy above them and the car involved. We don't know if anybody's been hurt. That fire is now out. We will hit a peak of covert cases within a couple of days, according to the local experts behind Coronavirus projections. These new covert cases come was Ryan Harris talked with one of them. Those projections from the Institute for Health Metrics and Evaluation that you w also show total deaths. By May 1st. Now it's 6000 down from nearly 8500. Aah! Jimmy's Dr Ali Mokdad says. We should assume at least one of the covert variances here in Washington more likely to circulate and sickened people. But with vaccines going out less likely despite the death toll, Mokdad says, If you get the vaccine, you could still spread the virus. But what about whether Grandma can hug her grand kids? After a year? If she's vaccinated, safe, not safe. It's safer for Grandma. She's vaccinated. Just one week or two weeks after the second dose, it's safer for her visitor correction. Maybe was that Mokdad says he's also concerned that passing a peak will cause people to slack off and undermine our efforts. Ryan Harris come Oh news since the insurrection at the U. S. Capitol President Biden directed intelligence officials to closely watch for threats of domestic extremism, including here in the Pacific Northwest, more from com. O Seu Romero. This week, protesters allegedly broke windows at the federal courthouse in downtown Seattle. While in Portland, police there say demonstrators with anti Biden signs damaged the headquarters of the Democratic Party of Oregon in a briefing at the White House. When asked for the president's comment on the unrest, press Secretary Jen Psaki says she hadn't asked him specifically about our region. But it is something our national security team Lesher When Randall our homelands, pretty adviser, is closely monitoring, of course. Meanwhile, governor Inslee says the Washington National Guard will begin to withdraw from the capital in Olympia, while other long term security measures have been added. Romero come on News. The head of the State Employment Security Department is going to the other Washington commissioner Suzi Levine, taking a position in the Biden administration. She was appointed by Governor Inslee in 2018. The vine in the department came under scrutiny last year after the agency lost some $600 million in fraudulent unemployment claims at the start of the pandemic. Republican Secretary of State Kim Wyman wants to change Washington's presidential primary last year was the first for the new pickup party primary in which voters had to declare which party they were. If they wanted to cast a ballot. There was a lot of pushback because which part of you chose became a matter of public record. Now, Kim Wyman wants a third unaffiliated option..

President Biden Sue Romero Biden administration president Dr Ali Mokdad Washington Ryan Harris Seattle State Employment Security Depa Moh Portland governor Inslee Mr Trump Kim Wyman Brian Harris Kevin Hassett Jeff Pooja economic adviser Senate
"kevin hassett" Discussed on KOMO

KOMO

02:35 min | 2 years ago

"kevin hassett" Discussed on KOMO

"Stay connected. Stay informed. The Northwest's on Lee 24 hour News Station Co. Moh news 1000 FM 97 7 I'm Rick van Sized Charlie Harker is our technical director is we look at these top stories, the CDC reporting the largest single day increase of administered Corona virus vaccines to date, the agency says at least 1.6 million shots were given out today, bringing the total to more than 19 million doses. Local health authorities warn of another surge of cases when the more contagious variant of covert hits our area. It's not a matter of if, but when masking up, staying home and getting the vaccine remained the best weapons at this point. Big plans, but we're starting to see some big questions for the new Biden administration as it rolls out. A new strategy aimed at addressing the virus in his delicate era is in Washington, D. C. Watching it on ABC News and spoke about it with Cuomo's Tom couple days in there already some questions about the vaccination effort to Joe Biden, you know, setting this target of 100 million vaccinations in 100 days, and that's Raising some concern from critics who wonder whether one that's enough or whether that's too much whether he's being maybe a little bit too ambitious there. There's a concern among some administration officials that there just wasn't enough concrete. You know, Vaccine rollout plan to be able T do this. Some of them have argued that they feel they're they're having to start from scratch. When it comes to this vaccine rollout plan, but the White House indicating that they are no that that circle mother planning to move full steam ahead. Joe Biden, certainly emphatic that he will get 100 million vaccines administered in his 1st 100 days, and the White House continues to take steps aimed at addressing the financial impacts felt by many Americans. As a result of this pandemic. That was the focus today with the economy, you know you find you find a number of executive actions to help the economy there. You know, focus also on their covert 19 relief bill that they're gonna have tol through Congress that White House today was touting the fact that there is there seems to be at least early on some Republicans support for this bill, The former President Trump's one of his top economic advisers, Kevin Hassett has come out to say that he thinks it's the bill is a good idea, even though it's it's a pretty In a hostage $2 trillion, which is obviously far more than Capitol Hill. Republicans would like to see but they are trying. Tolo. The White House is trying to send this message that there is bipartisan support for it on that. They're projecting confidence that they feel they couldn't.

Joe Biden White House Kevin Hassett News Station Co ABC News Rick van Charlie Harker CDC Washington technical director Congress executive Cuomo Trump President Tom
"kevin hassett" Discussed on KQED Radio

KQED Radio

06:47 min | 2 years ago

"kevin hassett" Discussed on KQED Radio

"Today 22 January. Good is always to have you along everybody so much to talk about so little time. So we're just going to jump right in Heather Long covers this economy for the Washington Post. The Bready is a managing editor at Politico. Hey, you two Okay, So Heather, let me start with you, Uh, and the president's plans for this economy specifically the $1.9 trillion relief. I think he calls it a rescue package that he has proposed, though not yet sent to Congress. I wonder. Given how tight things on Capitol Hill in the House and the Senate and already expressions of disapproval from some of their whether we're not going to see this thing, picked apart and done kind of peace militia instead of in one big wack. Yeah, You're right, Kai. This is certainly not been a love fest from from the Republican side For Joe Biden. Those message of unity was great on Wednesday, but it didn't hold for Thursday and Friday. S O. I think it's a really hard call for Joe Biden. He's gonna have to make it If there isn't a breakthrough in the next week, there's going to be a meeting this weekend between binds top economic advisers and some of those more centrist Democrats and Republicans. But if there isn't a breakthrough in the next week or so he's gonna have to decide. Do I basically chopped the bill in half and do what's really popular those another round of checks and more money for vaccines. Most people could get behind those things. And basically or do Does he really stick to his guns and want to do go big do something closer to two trillion That has more of those Democratic wish list items like state local aid, in which case that's going to have to be a Democratic on Lee Bill. But Sudeep yesterday, Kevin Hassett, who used to run the Council of Economic Advisors for President, Trump came out and said, if this bill is not passed the 1.9 trillion It could be. I don't think I said death spiral. I think you just said spiral for this economy That is not good. Yeah, Republicans were like Kevin, who? I don't know what any of them. I don't know. I've never heard of them where we're focused on the deficit in the death, so suddenly it's taking days for them to wake up. To their concerns from the pre trump era and I'm not going to declare the honeymoon over yet, but you can see the end of it coming right around the corner. We've gone from impeachment insurrection to inauguration. It makes me wonder whether we'll ever get to infrastructure if we can't even get through something like this, So it's just it's a very Weird moment where we were talking about naked national reconciliation and coming together with unity, and within weeks we're going to go straight to budget reconciliation the way around the idea of unity. Whether I do have to point out just kiss City bench in it that like clockwork. Republicans, with the turn of administration to a Democrat in the White House, have now rediscovered their fiscal austerity and desire to be judicious with spending the government's money. That's right. It does seem to be historical norm. We certainly saw the same thing when Barack Obama came to office. It's It's interesting. This is happening after President Trump ended office spending nearly a trillion dollars in one term, one of the highest of all time and behind only two presidents Lincoln and I believe George W. Bush, who were of course, spending a lot during war time periods as a percent of the economy. Let me turn to what is happening now, with the running of this economy and look, President Biden is not the first president to do executive orders and executive actions and we're going to talk about a little bit through the rest of the show. But There is a certain volatilities that comes with this pen in ink strategy that President Trump used in president Obama used with without getting legislation done by the Congress. You know you could see it in in the survey data, the polling data that we we've seen how you know Republicans. Suddenly, the day after an inauguration after an election or feeling worse about the economy, Democrats are feeling better. They just flips like that. I was struck by seeing it in the survey of small businesses and if I'd be Does the survey and they're all worried about taxes. Now they're suddenly worried about it on we're going to see this coming up over and over where people who are like imposing their their political views on this and feeling like they're they're a little unsettled by it. The regulatory changes will be meaningful for For coming out of the labor Department coming out of other areas that will certainly like forced changes in government. But each each moment things have moved a little further, like the idea that asshole you just said that Donald Trump could open the door to A trillion dollars in new debt in four years does open the door to other things, and it's a populist approach to policy that has come in. And maybe that means that the flurry of executive orders has has allowed that just move forward with more of that, right, Heather, Let's talk about President Trump for a hot second here. Um, as this administration changes, um, look back for me, Would you and give me your sense of the lasting changes that Donald Trump brought to the American economy in his four years? Well, I would say there's three big ones and eager to hear what you think. But number one is China. I mean, obviously big, u turn getting harsh on China. Putting those tariffs on you'll notice even this flurry of executive orders that have come out in the past few days. Nothing has pulled back those tariffs yet on China, and you don't hear much of that discussion coming out of the White House number two. We just were joking about it, but it's a serious issue, and that's Hey, was the king of debt in the White House as well with that a trillion dollars, adding to the debt Now, Obviously, some of that was in the past year when everybody agreed. We had to spend help it when this crisis moment. But that's that's going to be a lasting legacy that will certainly hurt down the road. The last one I think is a little bit more interesting, and there's been a sea change in Washington. Trump was part of it. So it was the Federal Reserve and believing that we should run the economy hot on the people. Trump did it by doing massive tax cuts. That is very debatable if that was the right approach. Obviously, the Federal Reserve has kept interest rates low, but we did see Some really good gains before this pandemic, finally, in terms of low unemployment and in terms of wage is really starting to rise and away we had seen since the late nineties. So I think there's that that mentality is going to stay around. You can already see an incoming Treasury Secretary Janet Yellen, talking that way. How important it is to know if we have to spend money and run the economy hot..

President Trump president President Biden executive White House Congress Heather Long China Kevin Hassett Federal Reserve Politico Washington Post Barack Obama managing editor Lee Bill Senate Janet Yellen Council of Economic Advisors Washington Sudeep
"kevin hassett" Discussed on WNYC 93.9 FM

WNYC 93.9 FM

08:11 min | 2 years ago

"kevin hassett" Discussed on WNYC 93.9 FM

"January. Good is always to have you along everybody so much to talk about so little time. So we're just gonna jump right in Heather Long covers this economy for the Washington Post. The Bready is a managing editor at Politico. Hey, you two Okay, So Heather, let me start with you, Uh, and the president's plans for this economy specifically the $1.9 trillion relief. I think he calls it a rescue package that he has proposed, though not yet sent to Congress. I wonder. Given how tight things on Capitol Hill in the House and the Senate and already expressions of disapproval from some of their whether we're not going to see this thing, picked apart and done kind of peace militia instead of in one big wack. Yeah, You're right, Kai. This is certainly not been a love fest from from the Republican side For Joe Biden. Those message of unity was great on Wednesday, but it didn't hold for Thursday and Friday. S O. I think it's a really hard call for Joe Biden. He's gonna have to make it If there isn't a breakthrough in the next week, there's going to be a meeting this weekend between binds top economic advisers and some of those more centrist Democrats and Republicans. But if there isn't a breakthrough in the next week or so he's gonna have to decide. Do I basically chopped the bill in half and do what's really popular those another round of checks? And more money for vaccines. Most people can get behind those things and basically or do Does he really stick to his guns and want to do go big do something closer to two trillion That has more of those Democratic wish list items like state local aid, in which case that's going to have to be a Democratic on Lee Bill. But Sudeep yesterday, Kevin Hassett, who used to run the Council of Economic Advisors for President, Trump came out and said, if this bill is not passed the 1.9 trillion It could be. I don't think I said death spiral. I think you just said spiral for this economy That is not good. Yeah, Republicans were like Kevin, who? I don't know what any of them. I don't know. I've never heard of them where we're focused on the deficit in the debt, so suddenly it's taken days for them to wake up to their concerns from the pre Trump era and I'm not going to declare the honeymoon over yet, but you can see the end of it coming right around the corner. We've gone from impeachment insurrection to inauguration. It makes me wonder whether we'll ever get to infrastructure if we can't even get through something like this, So it's just it's it's a very Weird moment where we were talking about naked national reconciliation and coming together with unity, and within weeks we're going to go straight to budget reconciliation the way around the idea of unity. Heather. I do have to point out just cause she did mention it that like clockwork. Republicans, with the turn of administration to a Democrat in the White House, have now rediscovered their fiscal austerity and desire to be judicious with spending the government's money. That's right. It does seem to be a historical norm. We certainly saw the same thing when Barack Obama came to office. It's It's interesting. This is happening after President Trump ended office spending nearly a trillion dollars in one term, one of the highest of all time and behind only two presidents Lincoln and I believe George W. Bush, who were of course, spending a lot during war time periods as a percent of the economy. Let me turn to what is happening now, with the running of this economy and look, President Biden is not the first president to do executive orders and executive actions and we're going to talk about a little bit through the rest of the show. But there is a certain volatilities that comes with this pen and ink strategy that President Trump used in president Obama used with without getting legislation done by the Congress. You know you can see it in in the survey data, the polling data that we we've seen how you know Republicans. Suddenly, the day after an inauguration or after an election or feeling worse about the economy, Democrats are feeling better. They just flips like that. I was struck by seeing it in the survey of small businesses and if I be Does the survey and they're all worried about taxes. Now they're suddenly worried about it on we're going to see this coming up over and over where people who are like imposing their their political views on this and feeling like they're they're a little unsettled by it. The regulatory changes will be meaningful for For coming out of Labor Department coming out of other areas that will certainly like forced changes in government. But each each moment things have moved a little further, like the idea that asshole you just said that Donald Trump could open the door Tonto a trillion dollars a new debt in four years. Does open the door to other things, and that Z, a populist approach to policy that has come in. And maybe that means that the flurry of executive orders has has allowed that just move forward with more of that, right, Heather. Let's talk about President Trump for a hot second here. Um, as this administration changes, um, look back for me, Would you and give me your sense of the lasting changes that Donald Trump brought to the American economy in his four years? Well, I would say there's three big ones and eager to hear what you think. But number one is China. I mean, obviously big, u turn getting harsh on China Putting those tariffs on you'll notice even in this flurry of executive orders that have come out in the past few days, Nothing has pulled back those tariffs yet on China, and you don't hear much of that discussion coming out of the White House. Number two. We just were joking about it. But it's a serious issue. And that's hey was the king of debt in the White House as well with that $8 trillion, adding to the debt Now, obviously, some of that was in the past year when everybody agreed we had to spend help it when this crisis moment. But that's that's going to be a lasting legacy that will certainly hurt down the road. The last one I think is a little bit more interesting, and there's been a sea change in Washington. Trump was part of it. So it was the Federal Reserve and believing that we should run the economy hot on the people truck did it by doing massive tax cuts. That is very debatable if that was the right approach. Obviously, the Federal Reserve has kept interest rates low, but we did see Some really good gains before this pandemic, finally, in terms of low unemployment and in terms of wage is really starting to rise and away. We hadn't seen since the late nineties. So I think there's that that mentality is going to stay around. You can already see an incoming Treasury Secretary Janet Yellen, talking that way. How important it is to know if we have to spend money and run the economy hot. That's a lot better put those worries about inflation, where we'd rather do too much than too little right economy runs hot with no inflation, which is Kind of remarkable city. What do you think? Yeah, this is this is it's hard to turn back when you've got mind bogglingly supportive monetary policy. It is a populist approach to operating in Washington have been not because of Bernie Sanders, but because of Donald Trump, and that is that is an opening that it's gonna that's gonna last for years. They're obviously be Republicans pushing back on that. But But Janet Yellen and Joe Biden are actually in sync in who they want to support in the economy, particularly people who have been left behind and they're going to use all of these tools that Trump Trump opened the door to To try to do that. Yeah, I agree. I think there's been a huge change. Should he be ready at politico and Heather Long? She's at the Washington Post. Thanks you too. Thanks. Have a good weekend every weekend Wall Street at the end of a short week that actually felt kind of long, TBH little up a little down. We'll have the details when we do the numbers. There are.

President Trump president President Biden Heather Long White House Politico Washington Post Congress executive Washington Janet Yellen Barack Obama Senate managing editor Federal Reserve China Lee Bill Kevin Hassett Council of Economic Advisors
"kevin hassett" Discussed on KGO 810

KGO 810

01:33 min | 2 years ago

"kevin hassett" Discussed on KGO 810

"That's been the hallmark of this virus of people acting out of ignorance of like I feel okay and and, you know, Look, everybody I know all these people. None of them are sick. Why can't we have dinner in the same room? And that's the whole asymptomatic thing. Those rooms. They're super spreaders, even when nobody's acting sick. It's not like the flu, You know. I mean, this is different. So anyway, we got a lot more to come. What happened on January 6th or their tax supported people helping President bite in urging Congress to make his $1.9 trillion Rescue America plan happened, But he isn't waiting to get relief to Americans hit hard by covered nine treasures trumps Top former economic adviser Kevin Hassett, said quote He absolutely is in favor of this rescue plan. It's almost doesn't have a partisan piece to it. Mr Biden signing executive orders One of them expands Food assistance programs. General Lloyd Austin was sworn in today as Defense Secretary. House Speaker Nancy Pelosi will send an article of impeachment against former President Trump to the Senate on Monday it charges in with inciting insurrection in connection with the deadly attack on the capital. There was an unannounced visit today to National Guard troops of the capital because For keeping me and my family savers. Lady Dr. Jill Biden, who's late son Beau, served in the guard in Iraq posed for photos with the troops. Daria Aldinger ABC NEWS, K G O H N News Update some Tate Afternoon on the.

Dr. Jill Biden President Mr Biden Trump Kevin Hassett National Guard asymptomatic flu Lloyd Austin Nancy Pelosi economic adviser Iraq Beau Congress Senate America executive
Biden is already facing pressure to scale back his $1.9 trillion Covid relief plan

Marketplace with Kai Ryssdal

02:24 min | 2 years ago

Biden is already facing pressure to scale back his $1.9 trillion Covid relief plan

"Heather let me start with you And the president's plans for this economy specifically the one point nine trillion dollar Relief i think he calls it a rescue package that he has proposed though not yet sent to congress. I wonder given how tight things. On capitol hill in the house and the senate and already expressions of disapproval from some of their Whether we're not going to see this thing picked apart and done kind of piecemeal ish instead of in one big whack. Yeah you're right. This is certainly not been a love fest. From from the republican side for joe biden. Those message of unity. was great on wednesday. But it didn't hold for thursday and friday So i think it's a really hard call for joe biden. He's going to have to make it. If there isn't a breakthrough in the next week. There's going to be a meeting this weekend. Between binds top economic advisers and some of those more centrist democrats and republicans. But if there isn't a breakthrough in the next week or so. He's going to have to decide. Do i basically chop the bill in half and do what's really popular those another round of checks and more money for vaccines. Most people can get behind those things and basically or do does he really stick to his guns and wanna do go big do something closer to two trillion that has more of those democratic wishlist items like state and local aid in which case that's going to have to be a democratic only bill but sudi Yesterday kevin hassett who used her on. The council of economic advisers for president trump came out and said if this bill is not passed. One point nine trillion. It could be. I don't think he said death. Spiral spiral for this economy. That is not good. yeah. Republicans are like kevin who never heard of them. We're we're we're focused on the deficit and the debt so suddenly it's taken days for them to wake up To to their concerns from the pre trump era and I am not going to declare honeymoon over yet but you can see the end of it coming right around the corner. We've gone from ditchmitch. Insurrection to inauguration It makes me wonder whether we'll ever get to infrastructure if we could get through something like this so it's just it's a very weird moment where We were talking about knack national and coming together with unity and Within weeks we're going to go straight to budget reconciliation. The way around the idea and unity

Joe Biden Capitol Hill Heather Kevin Hassett President Trump Senate Congress Council Of Economic Advisers Kevin
"kevin hassett" Discussed on WBAP 820AM

WBAP 820AM

02:00 min | 2 years ago

"kevin hassett" Discussed on WBAP 820AM

"We know that we will have those 5000 vaccines in people's are the city will pull eligible names from the Dallas County registration website based on CDC guidelines. The shots won't be limited to Dallas residents. British covert 19 variant has been found to be more dangerous. A Prime Minister Boris Johnson and health officials revealed. Some evidence indicates the so called UK variant of covert 19 is deadlier than the original version by as much as 40%. They say. For example, in a group of 60 year olds 10 people might be expected to die out of 1000. With the old strain. 13 to 14 could die from the new strain. They note. More work needs to be done on this. It has been known The new variant is more contagious, but it's not thought to have been more dangerous. This is new information. The new variant is predominantly U. K. And it's not responsible for the surgeon cases and deaths here. It's now thought to be spreading in the U. S In London, Greg Palkot, Fox News President, Joe Biden signed more executive orders dealing with the economy and also talked about what he wants from Congress on Mork over 19 stimulus. He calls on December's package only a down payment analysis by Moody's estimates that if we pass our America rescue plan The economy would create 7.5 million jobs just in this year alone. That would be on the way to the more than 18 million, I think is 18,600,000 jobs that they believe will be created over the four year period. With our bill back better recovery plan, the president said. Even former Trump economic adviser Kevin Hassett is in favor of the plan. Texas business closing numbers on Wall Street, The Dow down 179 points NASDAQ Up 12 the S and P 500 Down 12 Again Low Tonight 47. It is 51 degrees from the W B A P News desk. America Bushman Your Next update at 5 30 24 7 coverage. WB ap dot com Coming up on the Monday morning news here on WB AP The Biden administration continues to roll out executive orders. We've got some reaction to.

Joe Biden President executive Dallas Dallas County Mork Boris Johnson Kevin Hassett Prime Minister CDC America Moody economic adviser U. K. UK London Congress Greg Palkot Texas
"kevin hassett" Discussed on KOMO

KOMO

05:29 min | 2 years ago

"kevin hassett" Discussed on KOMO

"Bill only under the editor's desk on Tom Cutler in for Taylor, Man sized with these stories we're following right now. New Defense Secretary Lloyd Austin is on the job at the Pentagon after confirmation by the Senate. The Senate vote. 93 to Austin, formally sworn in at the Pentagon will take part in the ceremonial swearing in ceremony with Vice President Kamila Harris next week. Senate Majority Leader Chuck Schumer is unhappy that thousands of National Guard troops were kicked out of the capital for a purity of time overnight. He opened the Senate and called it out of the unacceptable, Schumer said. It will not happen again. Big plans, but we're starting to see some big questions for the New Biden administration is it rolls out? A new strategy aimed at addressing the Corona virus pandemic and as delicate terra is in Washington, DC, watching it all for ABC News and With me once again on the coma news line and as a couple of days in there already some questions about the vaccination effort. Yeah, to Joe Biden, you know, setting this target of 100 million vaccinations in 100 days, and that's raising some concern from critics who wonder whether one that's enough or whether that's too much whether he's being maybe a little bit too ambitious. There. There's a Concern among some administration officials that there just wasn't enough concrete. You know, Vaccine rollout plan to be able Todos. Some of them have argued that they feel they're they're having to start from scratch. When it comes to this vaccine rollout plan, but the White House indicating that they are no that that's their goal. They're planning to move full steam ahead. Joe Biden certainly emphatic that he will get 100 million vaccines administered in his 1st 100 days, and the White House continues to take steps aimed at addressing the financial impact felt by many Americans as a result of this pandemic. That's right. So that was the focus today with the economy, you know that he finds you find a number of executive actions to help the economy there, you know, focus also on their covert 19 relief bill that they're gonna have tol through Congress. The White House today was Touting the fact that there is there seems to be at least early on some Republican support for for this building and former President Trump's one of his top economic advisers, Kevin Hassett has come out to say that he thinks it's the bill is a good idea, even though it's it's a pretty In a hostage $2 trillion, which is obviously far more than Capitol Hill. Republicans would like to see but they are trying. Tolo. The White House is trying to send this message that there is bipartisan support for it. On that they're projecting confident that they feel they couldn't get it through Congress. And as we had another confirmation today, uh, in the White House cabinet, But the administration is working without hardly any Cabinet members. At this point. Where does that stand and what impact might second impeachment trial which could begin next week have on that and the response To the pandemic. Yeah, it was really interesting to see Republicans today, you know, threatening to to kind of throw some ice er throw their democratic priorities on ice there because of this impeachment trials. I saw some Republicans like Lindsey Graham Christians coming out to say that if Democrats want to move ahead with this impeachment effort that they are not going to be splitting the day, which was initially the idea that was being tossed around that there was concerned that lawmakers were just gonna be way too busy with the impeachment trial that they wouldn't be able to Confirm some of the Bidens cabinet nominees. So the idea that started circulating was maybe they could put their day maybe hold the trial in the morning and then take care of the confirmations in the afternoon. Some Republican they're coming out to say today that they don't think that's a good idea, which is, you know, just call. It takes that play. They're saying they're kind of threatening not to put the day into which is interesting to see and what went and Joe Biden just now, actually. I almost said that he supported a delayed impeachment. He kind of, uh, impeachment trial. He kind of stopped himself short of saying that. But he there's a reporter who threw out a question about Mitch McConnell's timeline. Mitch McConnell has suggested delaying the trial for the city of President Trump or room to gear up for for the trial and tow lawyer up. The job I did without about that. And he seemed to be on board with with with with. You know this idea of delaying the trial so that he would be able to get his Cabinet picks confirmed? Interesting. All right, thanks for the update, As always says that's a Navy season as adequate Terra. In Washington Governor's time. 1 20. It's your Propel insurance business Update. You would check your money news a 2050 past each hour. IBM late yesterday reported a decline and adjusted net income for the seventh consecutive year and a step down in sales for the eighth year out of the past nine analysts expected big Blue to maintain her improve both earnings and revenue with the beginning of 2020. First full year with large software acquisition Red hat, But the pandemic lead adjusted profits to declined by nearly a third in 2020. IBM shares today are down 9.3%. As a thank you to employees for their work during the corner virus Pandemic Bank of America, says US staffers who earned $100,000 or less annually we get a $750 Cash award next month. Bank doing so even though it's profit tumbled 35% last year that's your money now and we have today mixed with the Dow down 179 points to 9 30,096 dropping under that 31,000 point Mark. For the end of the week than it. NASDAQ O did finish up 12 points to 5 13,043 and the S and P 500 down 11.5 at 38 41. That's your propel insurance business Update Come on his time. 1 21 Stay home. Stay.

Joe Biden White House Senate Chuck Schumer Congress Cabinet Pandemic Bank of America Mitch McConnell Pentagon President Vice President Kamila Harris Bill Lloyd Austin IBM Austin Washington ABC News Lindsey Graham
U.S. Warns New China Law Jeopardizes Hong Kong’s Special Status

San Diego's Morning News with Ted and LaDona

00:22 sec | 2 years ago

U.S. Warns New China Law Jeopardizes Hong Kong’s Special Status

"Stocks are falling this Friday with the Dow dropping more than one hundred points as global tensions escalate top U. S. officials are warning that China's push to introduce new national security laws in Hong Kong could jeopardize the city special trade status one of president trump's top economic advisers Kevin Hassett told CNN his staff was studying possible retaliatory measures

China Hong Kong Donald Trump Kevin Hassett CNN President Trump
White House boosts protocols amid fears of virus spread

AP News Radio

00:49 sec | 2 years ago

White House boosts protocols amid fears of virus spread

"A trump adviser is worried with the corona virus making its way into the White House complex two people who work there are now known to have tested positive for the virus one of the president's valets and vice president pence's press secretary while the president says he's not worried about the virus spreading economic adviser Kevin Hassett says it's scary to go to work at the White House on CBS's face the nation Assam called the west wing a small crowded place it's you know a little bit risky but has it says there's also frequent testing and an excellent medical team the White House has moved to boost protocols with the president saying some people who interact closely with him will now be tested daily and says he and the president themselves will now get tests each day to Sager mag ani Washington

President Trump Pence Economic Adviser Kevin Hassett White House CBS Assam Vice President Press Secretary Ani Washington
Pelosi signals push for major new stimulus package

Tom Sullivan

00:29 sec | 2 years ago

Pelosi signals push for major new stimulus package

"House speaker Nancy Pelosi is signaling that Democrats will push for major new stimulus package including money for state and local governments trump senior adviser Kevin Hassett tells CNN's state of the union that the administration wants to see how existing funds are being spent I think that it's just premature given that the nine trillion dollars of aid that pass the last three phases given that that is still out there they're still a bunch of it is going to be delivered over the next month we think that we have a little moment the luxury of a moment to learn about what's going on so that the next step that we take can be prudent

Nancy Pelosi Kevin Hassett CNN Senior Adviser
Comparing the economic effect of the coronavirus to the great depression

WTOP 24 Hour News

00:21 sec | 2 years ago

Comparing the economic effect of the coronavirus to the great depression

"Though economists have been sounding alarms amid the corona virus White House economic adviser Kevin Hassett told CBS's face the nation they're a lot of economic differences between right now in the Great Depression here we understand why the economy slowing down and we expect that we can reverse it whereas in the depression there are a lot of other things a lot of policy errors and so on that made the whole thing

Kevin Hassett CBS White House Economic Adviser
30 million Americans have filed initial unemployment claims since mid-March

Garret Lewis

02:26 min | 2 years ago

30 million Americans have filed initial unemployment claims since mid-March

"With three point eight million more Americans filing new unemployment claims last week it's now more than thirty million laid off during the corona virus outbreak White House economic adviser Kevin Hassett tells fox the next monthly unemployment report comes out my guess is it's going to be something like nineteen percent which would be the biggest unemployment rate we've had since before the second World War but he says the worst will be behind us relatively soon if the virus is under control house speaker Nancy Pelosi says in the meantime a lot more small businesses need help from the federal government thirty million small businesses in the United States over now over two million have received assistance that's good maybe by three million another week or so but that's ten

Economic Adviser Kevin Hassett FOX Nancy Pelosi United States White House
President Trump meets with Florida Governor Ron DeSantis

Morning News with Manda Factor and Gregg Hersholt

00:33 sec | 2 years ago

President Trump meets with Florida Governor Ron DeSantis

"Trump is meeting at the White House for a governor Ron DeSantis this our Florida among the states that's loosening restrictions and opening some beaches the economic shockwaves continue from the coronavirus slowdown in lock down more than twenty six million people filing for unemployment assistance so far enough to worry some of the president's economic advisers including Kevin Hassett he said recently that the economic impact of covert nineteen could mirror that of the Great Depression today has been at the White House clarifying those comments stressing Congress is working on fixes an eight

Donald Trump White House Ron Desantis Florida President Trump Kevin Hassett Congress
U.S. Economy Faces Historic Shock

The Joe Piscopo Morning

00:36 sec | 2 years ago

U.S. Economy Faces Historic Shock

"He says there's no getting around it White House adviser Kevin Hassett predicts we'll see some really bad economic numbers in the coming weeks I think GDP growth in the second quarter is going to be no negative the number of Wall Street estimates are twenty negative twenty negative thirty percent of annual rate it's so that's because we've done something that's really unprecedented we basically stopped everything a treasury secretary Mnuchin predicts a major economic recovery once businesses start re opening on a large scale people get back to work he tells fox economy should start bouncing back big time around July

Kevin Hassett Mnuchin White House FOX
Kids in Spain relish outdoor hour as virus lockdowns ease

AP News Radio

00:40 sec | 2 years ago

Kids in Spain relish outdoor hour as virus lockdowns ease

"The White House is bracing for some tough economic numbers the next couple of months are gonna look terrible White House adviser Kevin Hassett you're going to see numbers that are as bad as anything that we've ever seen I think the unemployment rate is going to jump to a level probably around sixteen percent or even higher in the next job support and what about gross domestic product a common indicator used to track the health of the nation's economy I think good GDP growth in the second quarter is going to be you know negative big number Wall Street estimates are twenty negative twenty negative thirty percent annual rate the next jobs report is due out on may eighth actually after

White House Kevin Hassett
Mnuchin Sees Third-Quarter Rebound for U.S. Economy

Extreme Genes Family History Radio

00:33 sec | 2 years ago

Mnuchin Sees Third-Quarter Rebound for U.S. Economy

"Will be treasury secretary Steven Mnuchin says he sees an economic rebound this summer as we open up the economy in may and June you will begin to see the economy bounced back in July August September but Kevin Hassett chairman of the council of economic advisers to president trump suggests the economy won't turn back on like a light switch because we have the highest unemployment rate we've had since the Great Depression possibly a big negative GDP shocked ever gonna need really big thoughtful policies to make it so that people are optimistic again and they start the

Kevin Hassett Donald Trump Steven Mnuchin Chairman President Trump
Coronavirus infects U.S. economy; millions face financial ruin

Fox News Sunday

01:44 min | 2 years ago

Coronavirus infects U.S. economy; millions face financial ruin

"The tri state area has now seen nineteen deaths from the corona virus outbreak New Jersey governor Phil Murphy said today have a total of nineteen hundred and fourteen people in New Jersey have now tested positive for the virus twenty people have died there New York governor Andrew Cuomo said New York has seen one hundred fourteen deaths and over fifteen thousand cases Connecticut has seen five deaths from the virus governor Cuomo today called for the federal government to invoke the defense production act to get factories to make masks ventilators and other medical equipment he says the situation is dire this they cannot manage it states all across the country can't manage it certainly the states that are dealing with the highest caseload can't handle it but you're hearing it all across the country from states they just can't deal with finding the medical supplies that they need on CNN this morning mayor bill de Blasio said sixty people in the city have died from the virus eight thousand in the city are infected his forecast was Graham the truth is and new Yorkers and all Americans deserve the blunt truth it's only getting worse and in fact April and may are to be a lot worse right now we are a third of the cases in the country that's going to get worse for about two thirds or more the cases in New York state that's going to get worse the U. S. is entering a recession the ultimate fear is that it could last a long time and that has some worried about a depression some prominent economy watchers including former White House chief economist Glenn Hubbard and Kevin Hassett and former federal reserve vice chairman Alan blinder have drawn comparisons to the Great Depression although they have stopped short of forecasting

Phil Murphy New Jersey Andrew Cuomo New York Connecticut CNN Bill De Blasio Graham Glenn Hubbard Kevin Hassett Alan Blinder White House Chief Economist Vice Chairman
President Trump Announces Departure of Kevin Hassett, Economic Adviser

WSJ What's News

00:37 sec | 3 years ago

President Trump Announces Departure of Kevin Hassett, Economic Adviser

"President Trump announced on Twitter that Kevin Hassett the chairman of his council of economic advisers would be leaving his post, although the president didn't give a reason for his departure. Mr. Hassett told us in an interview that the move had quote been in the works for a good long time. He added that it was common for people to leave the post after around two years. President Trump said a successor would be named shortly. The position is largely seen as the chief economist of the White House duties include liaising with Federal Reserve officials and briefing, the president on economic data before it's released to the

President Trump Kevin Hassett Twitter Chief Economist Federal Reserve Chairman White House Two Years
Kevin Hassett, Trump And Advisor discussed on Laura Ingraham

Laura Ingraham

00:19 sec | 3 years ago

Kevin Hassett, Trump And Advisor discussed on Laura Ingraham

"The economy appears to be on a roll. The April jobs report is the best monthly performance in forty nine years. Trump economic advisor Kevin Hassett with perspective last time. The unemployment rate was this low. We're about to land on the moon for the first time. The last time the unemployment rate is this low for women. It was nineteen

Kevin Hassett Donald Trump Advisor Forty Nine Years
The White House Is Out With Its Annual Economic Report

Marketplace with Kai Ryssdal

02:22 min | 4 years ago

The White House Is Out With Its Annual Economic Report

"You are not ever gonna find from a Republican administration or democratic the annual economic report of the president on a bestseller list. But and it is usually worth spending some time with the thing. Doorstop size, though, it is seven hundred pages this year seven hundred five actually it's worth spending some time with the thing to get a sense of what the White House is thinking about this economy where it's been and where it is going, and what the council of economic advisers which actually wrote the report is thinking is hey things look pretty good. Thanks to the tax cut. So we got marketplace's Mariel Sagarra. She covers taxes for us. We got her on the phone for a little context. Hey. So let's let's do the top line thing. I the big thing gross domestic product overall economic growth. What is what does the council of economic advisors saying on there? Yeah. These GDP growth from the end of twenty seventeen to the end of twenty eighteen it was three point one percent in and then they actually made a guest what growth would have been if congress had never passed the tax law that came up with two point two percent. So the gap between those numbers to forty percent. Three point one percent. That's how much the tax law has supposedly boosted our economy. That's obviously a projection you we can't go back in time. Nobody knows for sure. But, you know, economists make estimates all the time that's reasonable. There were some other things going on in that same time period that could have boosted GDP oil prices went up, which led to investment in the US oil industry investment is a part of GDP. We also got a big spending Bill in two thousand eighteen that's a part of GDP. Economists told me that you would expect almost any tax cuts to boost the economy somewhat in the short term will. And that's the key thing there right because the predictions in the out years for this economy or substantially slower than what the White House says owner. Ask you about what Kevin Hassett, the chairman of the council of economic advisers, the guy who whose name is on this report. He pushed back against this talk of a sugar high. Right. What he say? Yeah. He said, you know, people say this is a sugar high that we had three percent growth, but that it's gonna fade away soon. He said, they don't think that's going to happen. Economist disagree on this. I think that's in part because there are short term and long term effects of a tax cut. You know in the short term a lot of economists say that they do think that the effects will fade away this year or next year.

Mariel Sagarra White House Kevin Hassett President Trump United States Congress Chairman One Percent Forty Percent Three Percent Two Percent
Kevin Hassett says Apple’s China sales were hurt by Trump

Bloomberg Best

00:25 sec | 4 years ago

Kevin Hassett says Apple’s China sales were hurt by Trump

"By one tenth of one percent. Every two weeks we're pushing toward week three. Global news twenty four hours a day on air and a tick tock on Twitter powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. This is Bloomberg. Byron Wein, vice chairman of the private wealth solutions group at Blackstone is out with his list of predictions for twenty nineteen

Byron Wein Vice Chairman Bloomberg Twitter Blackstone Twenty Four Hours One Percent Two Weeks
Fallout Grows As Partial Government Shutdown Drags On Into New Year

NPR's World Story of the Day

04:08 min | 4 years ago

Fallout Grows As Partial Government Shutdown Drags On Into New Year

"We are in day seven of the partial federal government shutdown, and there's no end in sight, President Trump wants congress to approve billions of dollars for a border wall. Democrats who are set to take control of the house next week saying, no, so far the effects of this shutdown have been relatively muted. Many people are taking time off for the holidays, but the fallout could grow if the shutdown stretches well into the new year as NPR's Scott Horsely reports the two weeks around Christmas are some of the busiest Joshua tree national park in California when rock climbers and car campers flocked to the high desert getaway the cactus and the campers are still there this week, but the Rangers would ordinarily patrol the park have been sent packing by the government, shutdown visitor centers are closed all the bathrooms are still open. But they're not being maintained right now by the park service. So the local community has rallied together and started cleaning the bathrooms and restocking. Toilet paper. John. The Riddick runs a nonprofit group called friends of Josh which. Three national park. He says those friends are grateful access to the park has not been cut off. But with the government shutdown approaching its second weekend, and no sign of compromise on the horizon, the rhetoric and others are digging in for what could be a long term project as dumpsters fill up and the pit toilets fill up. You know, what kind of solutions can we make to solve those problems? So far, the shutdown affecting about a quarter of the federal government has been little more than an inconvenience to some and invisible. Too many critical federal employees have stayed on the job. And while they're not being paid at the moment that won't really show up until their next paychecks are due January eleventh still Jacqueline Simon who's with the largest union federal workers says the longer the shutdown drags on the more widely its effects we felt your agency or affected by the funding wrap that had a little bit of money leftover her take him to the end of the year. But that money will be running out today Monday. And i'm. So more things will be shutting down the EPA. For example, has announced plans to hold operations at midnight tonight. This Massoni and museum and the national zoo will shutter their doors next week food stamps and the school lunch program or funded through January, but could take a hit after that. If the shutdown continues White House, it kind of has Kevin Hassett says the shutdown should not do lasting damage to the US economy. But he admits it could cause a blip in the unemployment rate. If hundreds of thousands of federal workers are still idle in a couple of weeks, if the shutdown extended through the job survey week about January tenth, then the government workers who are not reporting to work would show up in the unemployment statistics as well. But that would be more of a temporary thing. It's not something that we expect his really material for the outlive, social security and Medicare payments are still being made as usual, but applications for FHA back mortgages could be delayed FEMA briefly rattled the housing market. When the agency said it would. Up selling flood insurance policies during the shutdown Allen decker who has the insurance committee for the national association of realtors says that could have jeopardized as many as forty thousand home sales each month, if they're getting a mortgage, they gotta have flood insurance. And if they can't get the flood insurance or not able to get the mortgage, you know, the Bank requires it. So it's definitely can affect things under pressure. Fema backtrack late Friday instead it would resume selling flood insurance for now. Volunteers will keep scrubbing toilets at Joshua tree national park, but joined the Rettig says that's no substitute for the Park Rangers who ordinarily keep an eye on the native American rock, art and other history dotting the desert landscape. In unique artifacts up there that need to be protected by a fully staff National Park Service staff, and my concern is right now that those artifacts and those one of a kind kind of things in the park are unprotected. Unfortunately, that park protection like much of what the federal government does usually attracts little attention until it's gone. It's got Worsely NPR news. The White House.

Joshua Tree National Park Federal Government National Park Service Josh Rangers White House Kevin Hassett Park Rangers President Trump NPR Massoni And Museum National Association Of Realto Congress Scott Horsely EPA California Fema
New U.S. sanctions are expected to hit Iranians hard

The Frame

00:48 sec | 4 years ago

New U.S. sanctions are expected to hit Iranians hard

"Be quite a while before the tree of life synagogue can reopen was the scene of a brutal shooting last week when a man entered the synagogue and opened fire on worshipers killing eleven and wounding a number of others, including four police officers. Suspected gunman was arraigned this week on a forty four count indictment. Charging him with murder hate crimes. Obstructing the practice of religion. The White House says cheering another strong jobs report, which comes just days before the midterm elections. NPR's? Scott Horsely reports US employers added two hundred and fifty thousand jobs last month as the unemployment rate held steady the low three point seven percent. The jobs report top even some of the rosier projections, showing employers in all sorts of industries were hiring at a healthy clip. What's more the tight labor market is finally showing up in higher wages over the last year hourly wages grew by? Three point one percent. The fastest pace in nine years. White House economists Kevin Hassett says weekly paychecks grew even faster as many employees worked longer hours. Basically anyone who wants to work more at the job? They have is having an easy time doing some people who'd previously given up looking for work or not re entering the job market more than seven hundred thousand new workers joined the labor force last month. Most of those people found jobs, Scott Horsely, NPR news, Washington, the nation's trade gap. That's the difference between what other countries send to the US. An American firm send abroad wind in September Commerce Department says the trade gap had fifty four billion dollars up one point three percent from the previous month. Stocks ended would have been a brief string of obsessions. The market faltering amid concerns about device maker Apple's recent earnings numbers. The Dow fell one hundred nine points to twenty five thousand to seventy the NASDAQ closed down seventy seven points today, the standard and Poor's five hundred was down seventeen points. You're listening to NPR and. From KPCC news. I'm Nick Roman with the stories we're covering at seven hundred four the nation's immigration courts are dealing with a serious case backlog things got even Messier this week in L, A and other cities KPCC's less. They bear Stein. Roe Haas attorney Jean REEs was standing in line with a client outside the downtown LA immigration court this week when she noticed something was amiss. We weren't moving in line, which was odd.

NPR United States Scott Horsely White House Kpcc Murder Kevin Hassett Jean Rees Bear Stein Roe Haas Commerce Department Nick Roman Apple LA Washington Attorney
The Corporate Tax Cut Is Paying for Itself

Rick Hamada

04:12 min | 4 years ago

The Corporate Tax Cut Is Paying for Itself

"Tax cut is actually paying for itself. You remember there was a lot of hullabaloo over the corporate tax cut and how it's going to drive the deficit through the ceiling and the debt through the ceiling, and it's Armageddon and pretty much every democrat turned into a fiscal conservative furry. We couple of seconds because God forbid, you would actually borrow money to increase the debt to stimulate the economy. They would much prefer the throw that money at those shovel ready jobs print it, okay? The corporate tax. I'm going to get to that. But also, you this is stuff that you need to address. Most Americans have zero save for retirement the National Institute for retirement security zero and then the headlines risky market by one measure US. Stocks fifty percent pricier then at the two thousand top it's more expensive today than it was at the top of the market in the year. Two thousand a true bear market is really nowhere to be seen. So says veteran bull Ritz Bernstein. Who are we to believe? But I start with this. Steve Moore article was really really well done. I actually saw the presentation you may have as well that Kevin Hassett. The chairman of the Trump council of economic advisers. Gave on this topic. And I was impressed with him, by the way. But here's what Stephen Moore who you would assume I think he's from the Heritage Foundation would be a tad more objective than somebody from within the Trump administration. Although I think that Moore was on one of those committees once upon a time, so he probably leans right nonetheless. Here's what he said compare the August twenty eighteen economic forecast from the Congressional Budget Office with one from June twenty seventeen before the tax cuts passed and we discover some very good news. The much higher than expected economic growth in the wake of the Trump tax cuts means that you as gross domestic product will be higher than expected every year over the next decade every year over the next decade better than the dismal performance. We saw under the last administration that is still taking credit for what Trump did. No. It was the tax cuts. That really did this and the change in regulations and has Hassett in his presentation demonstrated that with two graphs, he showed one graph going down that was the trend line under Obama and one graph going up, and that's been the last two years under Trump. But I digress. I'm not an economist. Steve Moore is. Okay. Here we go. Even if we assume he says a reversion to the pre Trump one point nine percent growth path. Remember that new normal the new normal one point nine the ratchet up in GDP this year translates into one hundred seventy nine billion an unexpected output this year. Four hundred sixty five billion next year. Six hundred fifty four billion in twenty twenty. And so on this. Magic of compounding yields more than six trillion in additional GDP over the decade. Thanks to faster growth, that's already been achieved. And other words, we've already taken a bite out of the social security thing member. And I'll be the first one to criticize myself if there is criticism. Do

Stephen Moore Donald Trump Steve Moore Kevin Hassett Ritz Bernstein Congressional Budget Office United States Chairman Heritage Foundation National Institute Barack Obama Fifty Percent Nine Percent Two Years