Kevin Hassett, director of the White House National Economic Council, said U.S. growth should be “close to 4%, not 3%” if there is “no interference from the outside world,” and called 4% his “baseline scenario.” He warned external shocks could prevent the Trump administration from achieving its target of sustained 3% GDP growth; private economists typically forecast nearer 2%. Hassett said recent AI investment has supported GDP, while slowing labor-force growth and a weak housing market remain h

Kevin Hassett, director of the White House National Economic Council, said U.S. growth should be “close to 4%, not 3%” if there is “no interference from the outside world,” and called 4% his “baseline scenario.” He warned external shocks could prevent the Trump administration from achieving its target of sustained 3% GDP growth; private economists typically forecast nearer 2%. Hassett said recent AI investment has supported GDP, while slowing labor-force growth and a weak housing market remain headwinds. He added the administration’s goal to cut the fiscal deficit to 3% of GDP could be affected by “force majeure” factors. On rising U.S. Treasury yields, Hassett said the move partly reflects a more attractive investment backdrop and that higher financing costs have not deterred projects such as data centers — firms continue to borrow and invest, pushing rates up. On the federal debt exceeding $40 trillion, he said part is intra-governmental “debt the government owes itself,” and estimated external debt at about $15 trillion.