The Conversation with Dasha Burns 'They're causing real harm': Kevin Hassett on the Dems' shutdown standoff
Oct 3, 2025
Kevin Hassett, the former Chair of the White House National Economic Council, shares his insights on the economic fallout from the government shutdown, emphasizing the urgency to reopen government and the positive effects of tariff policies amidst controversy. Kevin O'Leary, Shark Tank judge and investor, discusses his bullish outlook on TikTok while critiquing federal investment in Intel. Both guests delve into the political strategies behind the shutdown, the impacts on the economy, and the importance of Fed independence, providing a multifaceted view of current economic challenges.
AI Snips
Chapters
Transcript
Episode notes
Jobs Data Are Mixed And Conflicting
- Hassett describes conflicting job measures between household and establishment surveys with large divergence in August.
- He favors the household survey as the better indicator of current job strength.
Tariffs Haven't Destroyed Growth, Yet
- Hassett contends tariffs haven't produced the predicted stagflation and coincide with high growth and low inflation.
- He argues Chinese suppliers are price-inelastic, often absorbing tariffs rather than passing them fully to US consumers.
Farm Pain Is Real But Addressable
- Hassett acknowledges farmers face tens of billions in losses from lost Chinese demand.
- He says tariff revenues exceed costs and the administration is pursuing deals and support for farmers.