Kevin Hassett
Kevin Hassett | |
---|---|
Senior Advisor to the President for Economic Issues | |
In office April 15, 2020 – July 1, 2020 | |
President | Donald Trump |
Preceded by | Position established |
Succeeded by | Vacant |
29th Chair of the Council of Economic Advisers | |
In office September 13, 2017 – June 28, 2019 | |
President | Donald Trump |
Preceded by | Jason Furman |
Succeeded by | Tomas J. Philipson (Acting) |
Personal details | |
Born | Kevin Allen Hassett March 20, 1962 Greenfield, Massachusetts, U.S. |
Political party | Republican |
Spouse | Kristie |
Children | 2 |
Education | Swarthmore College (BA) University of Pennsylvania (MA, PhD) |
Kevin Allen Hassett (born March 20, 1962) is an American
Hassett has worked at the
In the Trump administration, Hassett was the 29th Chairman of the Council of Economic Advisers from September 2017 to June 2019.[4][5][6][7] He returned to the White House in 2020 to work on the administration's response to the coronavirus pandemic. Hassett did not focus on public health policy, but rather influenced the administration's response from an economic angle amid lockdowns and social distancing.[8][9] Hassett built a model that indicated that COVID-19 deaths would drop off to near zero by May 2020.[8][10] Hassett's model contradicted assessments by public health experts, and was widely panned by academics and commentators.[9][11]
Early life and education
Hassett is a native of Greenfield, Massachusetts, where he graduated from Greenfield High School. He received a B.A. in economics from Swarthmore College and a Ph.D. in economics from the University of Pennsylvania under supervision of Alan J. Auerbach.
Career
Hassett was an assistant professor of economics at
American Enterprise Institute
Hassett joined AEI as a resident scholar in 1997. He worked on tax policy, fiscal policy, energy issues, and investing in the stock market. He collaborated with
In 2003, Hassett was named director of economic policy studies at AEI. Hassett wrote columns in newspapers like The New York Times, The Washington Post, and The Wall Street Journal. He writes a monthly column for National Review and, since 2005, a weekly column for Bloomberg.[13]
In 2007, Hassett argued that the United States was on the wrong side of the Laffer curve in terms of corporate tax rates. Economists and commentators characterized a graph that he used to support his argument as deceptive.[14][15][16][17]
Dow 36,000
Hassett is coauthor with
Paul Krugman argued on his faculty website that the book contained basic arithmetic errors and was "a very silly book" but regarded Hassett's role as co-author as a "youthful indiscretion."[22] Statistician and blogger Nate Silver described the book as "charlatanic" and suggested on empirical grounds that the authors had failed to notice that at the time of writing stock prices were "as overvalued as at literally any time in American history".[23]
Views on immigration
According to The New York Times, Hassett's nomination by Trump to lead the Council of Economic Advisers was met with opposition by some anti-immigration groups such as Breitbart News, American Renaissance, the Center for Immigration Studies.[24] Hassett—"like most economists ... believes that immigration spurs economic growth."Prior to Hassett's nomination, President Trump "broke with recent tradition and removed the council's chairman from a cabinet-level position".[24]
Chair of White House Council of Economic Advisors
On September 5, 2018, Hassett released new analysis indicating that real wage growth under Trump was higher than reported, despite figures indicating that wage growth had not picked up.[25]
On September 13, 2018, on an official visit to Ireland, when questioned if the U.S. considered
On June 2, 2019, it was announced that Hassett would be stepping down from his role within the coming weeks.[7]
Return to the Trump administration
On March 20, 2020, it was announced that Hassett will be returning to the White House on a temporary basis to advise
Hassett has reportedly been shortlisted for nomination as Chair of the Federal Reserve if former president Donald Trump were to win re-election in 2024.[35]
Bibliography
- Hassett, Kevin. "Spending, Taxes and Certainty: A Road Map to 4%", in The 4% Solution: Unleashing the Economic Growth America Needs, edited by Brendan Miniter. New York: Crown Business. 2012.
- ISBN 0844742341)
- Kevin A. Hassett. Bubbleology: The New Science of Stock Market Winners and Losers. New York: Crown Business, 2002. (ISBN 0609609297)
- Kevin A. Hassett and ISBN 0844741442)
- Kevin A. Hassett and R. Glenn Hubbard. Transition Costs of Fundamental Tax Reform. Washington: AEI Press, 2001. (ISBN 0844741124)
- ISBN 0609806998)
- Kevin A. Hassett and R. Glenn Hubbard. The Magic Mountain: A Guide to Defining and Using a Budget Surplus. New York: Free Press, 1999. (ISBN 0844771279)
- Kevin A. Hassett. Tax Policy and Investment. Washington: AEI Press, 1999. (ISBN 0844770868)
- Hassett, Kevin A. (2008). "Investment". In OCLC 237794267.
See also
- Base erosion and profit shifting
- EU illegal State aid case against Apple in Ireland
- Double Irish arrangement.
References
- ^ a b Watts, William. "Dow 36,000: Industrials briefly top milestone, putting spotlight on 1999 book". MarketWatch. Retrieved March 18, 2024.
- ^ Thomas, Lauren; Mui, Ylan (February 24, 2017). "Trump picks conservative think tanker to chair Council of Economic Advisers". CNBC. Retrieved April 18, 2017.
- ^ "Who Are Obama's and Romney's Key Economic Advisers?". nationaljournal.com.
- ^ Michelle Jamrisko (April 7, 2017). "Trump Names Hassett to Head Council of Economic Advisers". Bloomberg News. Retrieved April 9, 2017.
- ^ Long, Heather (April 10, 2017). "Meet Trump's newest economic adviser: Kevin Hassett". CNNMoney. Retrieved April 11, 2017.
- ^ Lawler, Joseph (September 12, 2017). "Roll call vote PN457". United States Senate. Retrieved September 12, 2017.
- ^ Wall Street Journal. Retrieved June 3, 2019.
- ^ a b c d e "34 days of pandemic: Inside Trump's desperate attempts to reopen America". The Washington Post. 2020.
- ^ ISSN 0362-4331. Retrieved May 8, 2020.
- ^ a b "Draft report predicts covid-19 cases will reach 200,000 a day by June 1". The Washington Post. May 4, 2020. Retrieved May 4, 2020.
- ^ a b Yglesias, Matthew (May 8, 2020). "The Trump administration's "cubic model" of coronavirus deaths, explained". Vox. Retrieved May 8, 2020.
- ^ a b Kevin Hassett curriculum vitae on AEI website.
- ^ "Kevin Allen Hassett". bloomberg.com. March 27, 2011.
- ^ Yglesias, Matthew (August 2, 2007). "Laffer Curve Revisited". The Atlantic. Retrieved May 5, 2020.
- ^ "Economist's View: Yet Again, Tax Cuts Do Not Pay for Themselves". economistsview.typepad.com. Retrieved May 5, 2020.
- ISSN 0013-0613. Retrieved May 5, 2020.
- ^ "The Most Mendacious Graph the Wall Street Journal Ever Published: Paul Gigot and Kevin Hassett Smackdown/Hoisted from 2007". Brad DeLong's Grasping Reality. Retrieved May 5, 2020.
- ISBN 9780609806999. Retrieved April 12, 2017.
- ^ "U.S. stocks take a fall - Oct. 1, 1999". money.cnn.com.
- ^ "Dow's peak, 3 years later - Jan. 14, 2003". money.cnn.com.
- ^ "Stocks get pummeled on GE, autos, investor pessimism - Oct. 9, 2002". money.cnn.com.
- MIT, retrieved April 12, 2017
- ^ Silver, Nate (March 9, 2009). "Dow 36,000 Guy Accuses Obama of Sabotaging Economy". FiveThirtyEight. fivethirtyeight.com (blog). Archived from the original on January 25, 2013. Retrieved March 7, 2018.
- ^ a b Rappeport, Alan (April 12, 2017), "Choice of Pro-Immigration Economic Adviser Riles Trump's Base", The New York Times, Washington, retrieved April 12, 2017
- New York Times.
A mystery of the current economic recovery is why wages are stuck in neutral while economic growth revs faster. On Wednesday, the Trump administration tried to solve the puzzle by producing its own measure that shows wages are, in fact, growing
- ^ "'It's not Ireland's fault US tax law was written by someone on acid'". Irish Independent. September 13, 2018.
The economist [Kevin Hassett], who has previously referred to the Republic as a tax haven, said there had been a need to introduce reforms in the US, which have brought its corporate rate down to 21 per cent.
- ^ Seamus Coffey, Irish Fiscal Advisory Council (July 18, 2018). "When can we expect the next wave of IP onshoring?". Economics Incentives, University College Cork.
IP onshoring is something we should be expecting to see much more of as we move towards the end of the decade. Buckle up!
- New York Times. Retrieved February 24, 2019.
- ^ Nam, Rafael (March 20, 2020). "Economist Kevin Hassett returns to White House to advise Trump amid coronavirus". TheHill.
- ^ "White House to bring Hassett back as economic adviser amid crisis". POLITICO. March 20, 2020.
- ^ "Trump brings back Kevin Hassett as temporary economic adviser". Reuters. March 20, 2020 – via reuters.com.
- National Archives.
- ^ Zeballos-Roig, Joseph. "A White House economic adviser devised a head-scratching model that shows coronavirus deaths will hit 0 in just 10 days". Business Insider. Retrieved May 5, 2020.
- ^ Jason Hoffman; Veronica Stracqualursi (May 2, 2020). "White House economic adviser says additional coronavirus stimulus package might not be necessary". CNN. Retrieved May 3, 2020.
- ^ Leary, Andrew Restuccia and Alex. "WSJ News Exclusive | Trump Economic Advisers Float Three Names for Fed Chair". WSJ. Retrieved March 18, 2024.
External links
- Kevin Hassett bio at AEI
- Appearances on C-SPAN
- Kevin Hassett publications indexed by Google Scholar