Donald Trump’s most senior economic adviser once torched the president’s marquee tariff policy as “terrifying and tin-eared,” warning it could tip the U.S. into financial ruin.

Kevin Hassett, 63, is the White House’s top economist and the favorite to be the next chairman of the Federal Reserve. The White House regularly puts Hassett on television to defend its fiscal position.

Hassett told Fox Business News’ Maria Bartiromo on Friday that “the economy is booming so much because of President Trump’s policies that the marginal impact of the [government] shutdown has been small.”

The unemployment rate rose to 4.3 percent in August 2025—near a four-year high, and a clear sign labour market strength is fading. According to the Congressional Budget Office, real GDP growth is projected to slu

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