'This is really blockbuster news and suggests that the risks on the upside are very high for GDP this year,' says Kevin Hassett, chairman of the Council of Economic Advisers.
The"blockbuster" economic growth in the first quarter is"absolutely" sustainable, Kevin Hassett, an economic advisor to President Donald Trump, said Friday on CNBC.
Hassett, chairman of the Council of Economic Advisers, said that the Trump administration had already been forecasting 3.2% economic growth for this year. "You add that all together, this is really blockbuster news and suggests that the risks on the upside are very high for GDP this year," he added. Hassett agreed that when there is a lot of growth in inventories, it should give people pause about the next quarter. However, he said in this case there is no need for concern.
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