Kevin Hassett, President Trump’s chairman of the Council on Economic Advisors and the author of the famous “Dow 36,000” book, is feeling pretty good about the direction of the stock market.
Quizzed last week about his prediction coming true under Trump, he noted the recent growth of equities and confidently said “sure, sure” when asked if Wall Street was headed in the right direction.
“I think that the equity premium right now is at about 3 percent and so you should expect a real return going forward of like whatever your favorite guess for the real 10-year bond yield plus 3 percent. That’s what that model is,” he said.
“Obviously as numbers get larger then it takes smaller percentage changes to get to bigger numbers, he added during a breakfast media roundtable hosted by the Christian Science Monitor. …
- Leave it to level-headed Washington philanthropist David Rubenstein to cool the white hot debate over Confederate leaders like Gen. Robert E. Lee. In explaining his financial help to rebuild the Lee Mansion at Arlington National Cemetery, Rubenstein said, “restoring it was a way to have an attractive place that reminds people of American history, the good and the bad.” The billionaire, who has funded several Washington restorations, ’fessed to the publication Philanthropy, “I have my faults, everybody has faults.” …
- To get a feel for just how prosecutorial the anti-Trump media has become consider this exchange last week between CNN White House correspondent Jim Acosta and spokeswoman Sarah Sanders. In asking about the failed nomination of Navy Adm. Ronny Jackson to head the Veterans Affairs Department, Acosta pressed on Trump’s view. “So he thinks Dr. Jackson has all the experience necessary to run the department?” Eight words into Sanders’ answer, he demanded, “It’s a yes or no question.” …
- Move over Bill Clinton, there’s a new “comeback kid” in Washington. Five months after surviving a 28-day coma, the spirit behind the Vietnam Veterans Memorial, Jan Scruggs, joined in the annual washing of the “Wall.” And he bragged that he’s been walking five miles on some days. …
