Council of Economic Advisers Chairman Kevin Hassett said on Tuesday that the Trump administration economic policies is expanding America’s wealth to all-time highs while reducing the unemployment rate to historic lows.
“Almost every state in the country has hit an all-time low for unemployment. Wages are growing fast, especially for people for people at the bottom. 6-1/2 percent for the bottom 10 percent for the wage distribution,” Hassett said during an interview on FOX Business’ Lou Dobbs Tonight Tuesday.
Investors gauge the pulse of the U.S. economyOpens a New Window. by how well the market is performing. NASDAQ and S&P both closed at record highs Tuesday, while the Dow Jones is under 200 points from hitting its record high. The Stock market has added more than $9 trillion to the market cap under President Trump. Some economist have speculated that a recession is near, but the economy seems to show no signs of slowing down.
Hassett said the president is not “fully satisfied” with the economyOpens a New Window. and wants to see continued growth.
“There was no analysis to support the idea that we’re about to have a permanent recession after president was elected. In fact, the analysis that we put out said the opposite,” Hassett said. “The numbers are really strong….there is GDP coming out this week.” – READ MORE