Kevin Hassett has been the White House economic advisor for two years now. While there’s a lot of speculation as to why he’s leaving, it’s actually a good thing for the White House, President Trump, and the rest of the country.
Why is Hassett leaving?
Hassett has announced his departure and talked heavily with Trump about it. He will be leaving his position at the end of the month, though it’s been in the works for quite a while now.
The history of the CEA shows that this is nothing new. It’s normal for the advisor to leave after every two years. It’s healthy for the White House to get a new advisor so that they have someone with a fresh perspective on things.
Trump has also commended Hassett on a job well done. As for a replacement, Trump will be naming one as soon as he returns to the United States from a five-day trip that includes not only the UK but also France and Ireland.
Hassett has not identified what his next move will be. However, he is departing with respect for the institution as well as to spend more time with his family.
What the Next Economic Advisor Will Deal With
Although rumors have it that Hassett is leaving because of the tariffs being imposed on Mexico, this is not accurate. Hassett had announced his plans to leave long before this was pushed through.
The next White House economic advisor will be left to deal with the relations that are taking place between both Mexico and China. The trade wars are escalating and Trump will need to identify an advisor who will be able to clearly provide the necessary guidance.
Hassett identified that there’s an immigration crisis that Trump is dealing with. While he declined to identify whether he thinks that a deal will be struck before the tariffs actually take place, he is hopeful for positive talks. He knows that the administration is looking at the big picture.
Who will take the role?
It is not clear who will take the role that Hassett is leaving behind. While Trump has identified that he is naming someone, it hasn’t been mentioned as of yet. It is possible that he will choose someone that Jared Kushner is also comfortable with as Kushner and Hassett had known each other prior to the CEA’s appointment in 2017.
The position will likely be for two years, just as this one was. This means that someone needs to be ready to come in and fill the role for as long as necessary. While most people choose to bow out after two years, it is also entirely possible that they will stay a little longer, especially if Trump secures the reelection in 2020.
Although there have been a number of people leaving the White House and Cabinet since Trump took office in 2017, it is a normal activity. Many news outlets want to make it look like a big deal that the advisor is leaving when it’s not.
Prior to Hassett, Jason Furman was in the role with Obama for four years. Before that, it was Alan Krueger, who held the role for two years. Before that, Austan Goolsbee was in the role for a little over a year. This means that there is no limit to the position – and it’s a common position to hold for only a short period of time.
Essentially, Hassett leaving is not going to upset the economy nor the White House. It actually ensures that the White House and President Trump continue to receive important information about how to explore the economy with all that is going on.
Perhaps the most important aspect of the advisor’s departure is making sure that someone comes in to fill his shoes prior to his departure at the end of the month. It is likely that Trump will name someone within the next week, providing a two week period where Hassett can work with the new advisor in order to catch them up to speed.
The economy may be exhibiting some areas of weakness, especially in light of what’s happening with both China and Mexico. What’s important is that Trump and the economic council is aware of what’s happening and meetings are taking place in order to keep everything under control.
Getting a new advisor may be just what the United States needs in order to put the trade war to bed and focus on a higher level of stabilization for the foreseeable future.