White House Chief Economic Advisor to President Trump, Kevin Hassett, discusses the status of the U.S. economy and the difference between Red State and Blue State economic growth. As Hassett notes the Blue states have an intention to hold down the economy.
Always the happy warrior, Hassett walks through the data of tracking COVID-19 cases and notes there is no correlation between the level of economic activity in an area, region or state and the scale of positive test results for the virus. This is a key point.
On the potential for a phase-4 economic relief package, Mr. Hassett notes any legislative action requested by the White House would be very detailed and targeted down to specific tax policy for specific industry. There is no spending package being considered by the White House; instead they are looking at targeted tax relief to assist. WATCH:
On a completely unrelated note Kevin Hassett is the kind of common sense advisor that all presidents’ would be fortunate to work with. He approaches the issues from a very pragmatic and reasonable direction, and is not prideful about saying a policy impact is unknown and should be monitored and adjusted in real time. We’re lucky to have him.