Trump economist nominee explains his infamous botched stock prediction

Kevin Hassett, Trump’s nominee to be a top economic adviser, got a chance Tuesday during his confirmation hearing to explain the infamously wrong prediction about stock markets he made in his 1999 book Dow 36,000.

The book, in which Hassett and James Glassman predicted during the run-up of the dot-com bubble that the Dow Jones Industrial Average would soar to 36,000 in a matter of years, has provided liberal detractors with ammunition against Hassett over the years, even as he has gained bipartisan credibility in his role as a scholar at the American Enterprise Institute for his work on taxes, spending programs and Deflategate.