Overview
- Kevin Hassett, the National Economic Council director, told Fox News on Sunday that GDP could run north of 4% to 6% because capital stock is expanding quickly.
- He pointed to a 3.3% jump in March business investment, not annualized, and credited tax changes that allow full expensing, onshoring efforts, and AI-related corporate spending.
- He said first-quarter growth of about 2% looked soft because the U.S. imported a record volume of capital goods to build factories, which he argued will lift output once those plants start running.
- He added that oil and gas prices could fall relatively quickly if tankers move again through the Strait of Hormuz, though current disruption still clouds the outlook.
- Independent projections keep 2026 growth near 2.2% to 2.6%, and critics cite canceled clean-energy factory plans as evidence that the investment boom is uneven.