Kevin Hassett Discusses AI Investment, Tax Policy and U.S. Economy Growth

Kevin Hassett on Wall Street Rally and US Economy

Wall Street’s upswing is increasingly linked to a blend of AI investment, corporate tax incentives, and a flurry of factory construction reshaping the U.S. economy.

Kevin Hassett, Director of the White House National Economic Council, chats with FOX Business’ Maria Bartiromo about why he is optimistic about the economy entering a new growth phase driven by capital expenditure, AI-driven productivity enhancements, and tax policies designed to boost homegrown manufacturing.

AI Productivity Boom and Economic Growth

White House National Economic Council Director Kevin Hassett (Al Drago/Bloomberg)

“The AI productivity boom is leading to an earnings boom,” Hassett states.

Investments in Advanced Manufacturing and Infrastructure

His comments come as companies invest billions in U.S.-based expansion projects connected to semiconductors, AI infrastructure, and cutting-edge manufacturing. Hassett highlights major investments from multinational companies like Novartis and Taiwan Semiconductor Manufacturing Company (TSMC), indicating that the US is “the place to be right now.”

Additionally, the administration’s efforts to restore full expense and bonus depreciation for factory construction and equipment have triggered a scramble to materialize projects before key tax incentives expire.

“There’s a race unlike any we’ve ever seen to create jobs in America right now,” says Hassett.

Strong Economic Growth Predicted

Hassett also foresees solid economic growth for the rest of the year. He believes that recent import data reflects long-term investment in manufacturing equipment rather than weaker domestic demand.

“I’m highly confident that we’re going to be looking at 4% numbers for the rest of the year,” Hassett asserts. “I personally would make a bet on it with my friends.”

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