Economists support Trump's pick to lead White House economic council

Economists support Trump's pick to lead White House economic council
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An ideologically diverse group of 44 economists on Monday expressed support for President Trump’s pick to head up the White House’s Council of Economic Advisers.

The economists urged the Senate Banking Committee to quickly confirm Kevin Hassett, an economist with the American Enterprise Institute, to lead the Trump administration's economic policy ahead of his nomination hearing slated at the Senate Banking Committee on Tuesday.

“While we disagree on many issues, as economists we all agree that the nation would be well served if Kevin Hassett is confirmed as chairman of the Council of Economic Advisers,” the economists wrote in a letter to Banking Chairman Mike CrapoMichael (Mike) Dean CrapoOvernight Health Care — Presented by PCMA — Sanders mounts staunch defense of 'Medicare for All' | Biden, Sanders fight over health care heats up | House votes to repeal ObamaCare 'Cadillac Tax' | Dems want details on fetal tissue research ban Hillicon Valley: Senators unload on Facebook cryptocurrency plan | Trump vows to 'take a look' at Google's ties to China | Google denies working with China's military | Tech execs on defensive at antitrust hearing | Bill would bar business with Huawei Senators unload on Facebook cryptocurrency at hearing MORE (R-Idaho) and panel ranking member Sherrod BrownSherrod Campbell BrownThe Hill's Morning Report - A raucous debate on race ends with Trump admonishment On The Money: Senators unload on Facebook cryptocurrency | Tech giants on defensive at antitrust hearing | Democrats ask Labor Department to investigate Amazon warehouses Hillicon Valley: Senators unload on Facebook cryptocurrency plan | Trump vows to 'take a look' at Google's ties to China | Google denies working with China's military | Tech execs on defensive at antitrust hearing | Bill would bar business with Huawei MORE (D-Ohio).

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“While the signers of this letter hold a range of views on President Trump’s policies, we all believe that the formulation of economic policy would be advanced by the analysis and advice that Dr. Hassett would bring to the table,” they wrote. 

Nominated in April, Hassett has served in government, worked for conservative-leaning think tanks, advised Republican presidential candidates and taught at Columbia University.

So far, he is the only person who has been nominated for the three-member council of economic advisers. 

He began worked for AEI in 1997 and during that time advised Sen. John McCainJohn Sidney McCainMeghan McCain promotes July 17 as #GBMday to raise awareness of father's cancer The peculiar priorities of Adam Schiff Ocasio-Cortez fires back at Lindsey Graham: 'Graham wants to bring back 1950s McCarthyism' MORE (R-Ariz.) during his 2000 and 2008 presidential campaigns, as well as Republican Mitt Romney in 2012.

The CEA, which the Trump administration has so far operated without, offers the president economic advice and recommendations to help formulate policy on issues such as the monthly job report.

Hassett, who worked at the Federal Reserve and the Treasury Department for President George H.W. Bush and President Clinton, “has a record of serious scholarship” on a wide range of topics from tax policy to business investment and energy, the letter says.

"We appreciate that Hassett has consistently made an effort to reach out to a wide range of people from across the ideological spectrum both to promote economic dialogue and to collaborate on research and public policy proposals," the economists wrote. 

The signers of the letter include former CEA chairmen for President Obama Jason FurmanJason FurmanTrump looks for longer boost from economy US economy grew at 3.2 percent in first quarter, exceeding expectations The Hill's Morning Report - Dems contemplate big election and court reforms MORE and Alan Krueger, former Federal Reserve Chairman Ben Bernanke, Jared Bernstein, a former chief economist for Joe BidenJoe Biden2020 Democrats react to 'send her back' chants at Trump rally Can Biden's canceled cancer initiative be salvaged? Biden's health care gaffe shows he's not ready for prime time MORE, Doug Elmendorf, former head of the Congressional Budget Office, Justin Wolfers, an economics professor at the University of Michigan and Mark Zandi, chief economist of Moody’s Analytics.