The director of the White House National Economic Council, Kevin Hassett, stated this Monday (11) that the United States will arrive “very ambitious” at the meeting between President Donald Trump and the President of China, Xi Jinping, scheduled for this week. In an interview with CNBCHassett said that “we will see what happens” at the meeting and highlighted that Trump is a great negotiator and will personally decide how to conduct the talks with the Chinese leader.
Regarding Iran, Hassett stated that there is “no rush” in negotiations, arguing that the Iranian economy is “on the verge of collapse”.
In the economic field, the White House advisor assessed that inflation continues to slow down “at a microeconomic level” and highlighted that the core consumer price index has averaged 2.6% in the last six months. According to Hassett, it is very unlikely that high energy prices will cause a recession in the US.
The member of Trump’s cabinet also stated that, if he were in charge of the Federal Reserve (Fed), he would “look beyond the supply shock”, in reference to the impacts of rising energy prices on inflation.
Hassett also criticized proposals for stricter regulation for artificial intelligence (AI), stating that he does not want “a gigantic new bureaucracy” to approve technologies. He also assessed, without providing further details, that the recent good performance of American stock markets reflects positive surprises in corporate results.
