On November 27, 2024, as reported by Epoch Times, US media on Tuesday (November 26) quoted sources as saying that President-elect Trump (Donald Trump) has chosen former economic advisor Kevin Hassett to serve as the Chairman of the National Economic Council.
According to reports by Bloomberg and The Wall Street Journal, the National Economic Council is responsible for leading the new government’s tax, trade, and spending agendas.
Hassett is a frequent figure in conservative economic circles and previously served as a senior advisor to Trump and Chairman of the Council of Economic Advisers during Trump’s first term, strongly advocating for the Republican Party’s tax policies and supporting a series of tariff proposals.
The official appointment is pending Trump’s announcement. Hassett did not immediately respond to requests for comments from the media.
As Chairman of the National Economic Council, Hassett will closely collaborate with Scott Bessent, the nominated Treasury Secretary candidate and hedge fund manager, to implement the White House’s economic agenda.
The National Economic Council is often confused with the Council of Economic Advisers (a White House internal economic think tank). In reality, the National Economic Council is a more practical policy-making team.
Established by President Clinton in 1993, the role coordinates economic policies and manages the competing internal and external factions attempting to influence the president.
According to Bloomberg, the work of the National Economic Council in Trump’s second term may be particularly challenging as the President-elect must fulfill a long list of ambitious campaign promises.
The Wall Street Journal cited sources saying that Hassett is the frontrunner to lead the National Economic Council. However, Trump may also change his mind and choose someone else for the position.
Sources revealed that Trump’s advisors have discussed other candidates for the National Economic Council role, including former US Trade Representative Robert Lighthizer, Goldman Sachs executive Jim Donovan, and former Trump trade advisor Peter Navarro. Some sources suggest that Navarro is still considering a senior advisor position.
Transition spokesperson Karoline Leavitt stated in a release, “President-elect Trump is making wise decisions at lightning speed about who will serve in his second term government. He will continue to announce remaining decisions.”