UPDATED 9:46 AM PT — Wednesday, Dec. 26, 2018
The chairman of the White House Council of Economic Advisers is predicting the economy will maintain strength through 2019.
Kevin Hassett recently told reporters the economy remains on track for three-percent growth on the year and predicted that growth will continue next year.
Hassett also dismissed fears over the economic impact of the government shutdown despite the recent plunge on Wall Street. He said the shutdown will only have temporary effects on the economy, but it would balance out in the long-term.
“What happens in the end is that people get their pay — they might miss a pay period because the government shutdown, but in the end, even if they aren’t working, then Congress has to decided to pay people for the whole time, and so in the end it’s really just a sort of short-term problem not a long-term problem for government workers,” explained Hassett.
Despite continued criticism from President Trump and concern he could fire the Federal Reserve chairman, Hassett said Jerome Powell’s job is “100-percent safe.”
The president has blamed the recent stock sell-off on Powell’s interest rate policy.