White House Shrugs Off Market Plunge As A “Blip”

The Washington Post reports:

President Donald Trump’s senior advisers downplayed fresh economic turbulence Monday as the administration’s escalating trade war deepened a sell-off on Wall Street and renewed fears about the stability of the U.S. economy.

“There are a lot of reasons to be extremely bullish about the economy going forward. But for sure, this quarter, there are some blips in the data,” White House National Economic Council Director Kevin Hassett told CNBC on Monday.

“What’s going to happen is the first quarter is going to squeak into the positive category, and then the second quarter is going to take off as everybody sees the reality of the tax cuts.”

From a notable 2018 JMG post:

“The history of how errors happen is not something that I can engage in, like from the initial fact to what the president said, I don’t know the whole chain of command. But what is true is that it’s the highest in 10 years, and at some point somebody probably conveyed it to him adding a zero to that, and they shouldn’t have done that.” – White House economic advisor Kevin Hassett, admitting that Trump wildly exaggerated the latest GDP figures.

Kevin Hassett is QAnon. That simple.

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— Denver Riggleman (@denverr.bsky.social) March 9, 2025 at 1:55 PM