National Economic Council Director Kevin Hassett was on “Sunday Morning Futures” with host Maria Bartiromo to talk about the resilience of the US economy.
“It’s interesting to see this market keep up strongly even in the middle of a war. What is driving the economy and how would you assess growth in the US right now?” Bartiromo asked.
“What’s happening is the AI is being folded into the operations of so many companies, that they are seeing their profitability and their revenues and even their employment skyrocket,” Hassett said.
“We’ve had a couple of quarters in a row where earnings surprised on the upside more than they ever have, and that’s why equity markets are going up is because in the end it’s the earnings that describe what the price should be,” Hassett continued.
“There’s an earnings boom going on. This is something unlike anything we have ever seen,” Hassett said.
“This has to mean higher costs for corporate America and for consumers,” Bartiromo said.
“Well, it does in the short run,” Hassett said.
“What kind of economic growth number would you expect for ’26 and beyond then? Let’s assume that we do get out of this war fairly soon. What kind of GDP growth number would you expect for the US economy?” Bartiromo asked.
“That’s the thing that we have been working a lot on lately because the capital spending boom. Remember that in March, capital spending went up by 3.3 percent, not at an annual rate. So, multiply that by 12, and you are looking at historic capital spending numbers because President Trump with his tax cuts which are, you know, getting people to expense, but also onshoring activity, is giving us the capital spending boom unlike anything we’ve never seen,” Hassett explained.
“We’ve got productivity growth at two and a half, I think we really could be looking at numbers north of 4, north of 5, north of even 6 because there is so much capital stock growth right now,” Hassett said.
“We are building all these factories. Once we turn those factories on, you are going to see really, growth unlike anything we’ve seen before,” Hassett said.
“Are you expecting Kevin Warsh to be the next Chairman of the Federal Reserve within a week?” Bartiromo asked.
“A hundred percent, and when you are talking about how well markets are doing, I think that markets are relieved that Kevin Warsh is coming in, that he definitely has the votes,” Hassett said.
Watch:
Today, exclusively on @SundayFutures with @MariaBartiromo, National Economic Council Director Kevin Hassett #KevinHassett spoke about the resilience of the U.S. Economy. @FoxNews pic.twitter.com/vUePU80ojm
— SundayMorningFutures (@SundayFutures) May 10, 2026
The post Kevin Hassett on the Resilience of The US Economy – “There’s an Earnings Boom Going On. This is Something Unlike Anything We Have Ever Seen” (VIDEO) appeared first on The Gateway Pundit.