White House Council of Economic Advisers Chair Kevin Hassett warned during an interview on CNN this morning that if the government shutdown continues, there is a chance of zero growth in the first quarter:
“It is true that if we get a typically weak first quarter and extended shutdown that we could end up with a number that is very low.”
However, Hassett was quick to note that this could be followed by “humongous” growth in the second quarter if the government reopens.
Hassett confidently proclaimed that the chance of recession in 2020 is “very, very close to zero,” and sees no risk of a credit downgrade for the US.
Additionally, ever the optimist considering the statements from Kudlow yesterday (and Lighthizer over the weekend), Hassett reassured that he is confident the US and China will reach a deal.
🚨 WH adviser Kevin Hassett (@WhiteHouseCEA) acknowledges on CNN that US economic growth could be 0 for first quarter of 2019 if shutdown doesn’t end 🚨 pic.twitter.com/gHCg9Um1k4
— Aaron Rupar (@atrupar) January 23, 2019
via ZeroHedge News http://bit.ly/2Dt5w9s Tyler Durden