Outgoing White House economist Kevin Hassett says tariffs and deficits are bad for America
Hassett told CNN's Poppy Harlow there are growing risks to the economic outlook because of mounting trade tensions with China and now Mexico."The uncertainty about the forecast is much higher than the last time we talked," Hassett said, referring to his last CNN interview a month ago.
Ignore the inverted yield curve?Still, Hassett is standing by his call for the US economy to grow at a healthy 3% clip this year, though he anticipates second quarter growth to be"closer to 2%." While job and wage growth has been"strong," Hassett noted that other economic metrics have been"a lot weaker."The Atlanta Federal Reserve's GDPNow model, a running estimate of economic growth, estimates annualized GDP growth of 1.2% during the second quarter.
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