Amid another troubling week for initial unemployment claims showing 3.8 million workers filing for financial assistance President Trump’s Senior Economic Advisor Kevin Hassett appears on Fox News to discuss the status of the economic shut-down.
Hassett notes his current estimate for total workforce unemployment around 19 percent. Additionally, Hassett outlines how the economic data lags the economic activity, so there is much more bad news to come. That said, with massive influx of federal spending to fill the gap, the White House has now shifted focus toward how best to reignite the economy.
Kevin Hassett has a forward outlook of optimism and notes there is pent-up demand which can re-launch the economy. The economy was so strong prior to the shutdown it is possible to look forward and remain optimistic.