Racial divide in pandemic’s economic fallout
Washington — One of President Trump’s top economic advisers brought on to assist with the economic fallout from the coronavirus pandemic will be leaving his post at the White House.
A White House official confirmed to CBS News that Kevin Hassett, who serves as senior adviser to the president, will be departing, though the exact date remains unclear. Hassett was on his second stint at the White House, having served as chairman of the White House Council of Economic Advisers from fall 2017 to mid-2019. He was temporarily hired back as a senior adviser in April as the coronavirus pandemic crippled the U.S. economy. Governors in most states issued stay-at-home orders requiring businesses to close their doors and mandating Americans limit their activities in an effort to mitigate the spread of the coronavirus. The pandemic sent the U.S. economy into a recession, and the number of workers applying for jobless aid hit historic levels.But all 50 states have now begun phased repenings of their economies, allowing businesses to accept customers once again, though with restrictions in place.Hassett predicted last month the unemployment rate could hit at least 20% as a result of the pandemic, but he told Fox Business in an interview last week he believes recovery has begun, with an economic boom expected in the second half of the year.