Hassett: No chance of US recession

By U.S. EconomyFOXBusiness

Hassett talks US economy hotspots, weak spots

White House Council of Economic Advisers Chairman Kevin Hassett discusses his outlook for economic growth and President Trumps Fed picks and U.S.-China trade.

White House Council of Economic Advisers Chairman Kevin Hassett said he’s not worried about a recession hitting the U.S. economy.

Continue Reading Below

“If you look at the jobs number on Friday,” he told FOX Business’ Maria Bartiromo on Monday, “I got a bunch of models that give you recession odds and they're all at about zero right now.”

MORE FROM FOXBUSINESS.COM... 

U.S. employers added 196,000 jobs in March, after a weak February.

CLICK HERE TO GET THE FOX BUSINESS APP

What’s more, Hassett also said that “the most important metric” is income growth and it’s “really taking off.”

“You’ve got the bottom 10 percent of the income distribution—their incomes are growing north of 6 percent according to our latest estimate,” he said. “If your income just went up 6 percent—then your consumption should go up by about that this year and I think that that gives us a lot of downside insurance for a bad year.”

What do you think?

Click the button below to comment on this article.