Hassett Says He Is Staying as Trump's Top Economic Adviser After Report of Exit

Kevin Hassett, the director of the White House National Economic Council, flatly rejected a report on Friday that he is preparing to leave President Trump's economic team, answering a reporter's question about his plans with two words by text: "Not true" ^[2]. Bloomberg reported that Hassett says he will stay on as the president's top economic adviser ^[2].

The report came from Semafor, which said Hassett was expected to step down in the coming weeks, citing three people familiar with his plans ^[1]. According to Semafor, Hassett had been asking about roles outside the administration since before this month's midterm elections, and Treasury Secretary Scott Bessent, who could hold both jobs at once, and Bessent's counselor David Zervos were among the names being discussed as possible successors ^[1]. Semafor also noted that his plans could change ^[1].

The White House answered on the record. Hassett told CNBC's Eamon Javers in a text message that the story was false, and a White House official said there was "no factual basis for this reporting," The Hill reported ^[3]. The same official called Hassett a key member of the president's economic team ^[3].

A Steady Voice on Jobs, Tariffs and Taxes

Hassett has led the National Economic Council since the first days of Trump's second term, Semafor noted ^[1], and he has been one of the administration's most visible and combative defenders of its economic agenda on television.

On jobs, he has had good news to sell. The Labor Department reported that employers added 165,000 positions in October, far above the 59,000 forecast cited by The Daily Wire, while the unemployment rate slipped to 4.1% against an expected 4.2% ^[4]. Revisions added a combined 84,000 jobs to the August and September counts ^[4]. Hassett called it one of the best reports he had "ever seen" ^[4].

On trade, he has refused to concede the argument that Americans are quietly paying for the president's tariffs. In February, after a New York Federal Reserve study concluded that U.S. businesses and consumers were bearing roughly 90% of the tariff burden, Hassett said the authors should be disciplined and called the study the "worst paper I've ever seen" in the history of the Fed system, CNBC reported ^[5]. He argued the research looked mainly at prices and ignored the wage and benefit gains that come from bringing production back to American soil, pointing to inflation-adjusted wages that he said rose about $1,400 on average in 2025 ^[5].

On taxes, Hassett was out front promoting the relief in last year's tax law. In December he predicted that the 2026 filing season would bring the "biggest refund cycle ever," telling Fox Business that the law's new breaks for tips, overtime and seniors came late enough in the year that many families would see the savings when they filed ^[6].

Departure rumors are often read as a verdict on an administration. But the record shows an adviser who has been willing to stand in front of the cameras and argue for the president's policies on the merits, from paychecks to trade to tax relief for working families.

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A White House in Transition

The Hassett report landed during a season of real change in Washington. Republicans suffered heavy losses in the Nov. 3 midterms, and Susie Wiles stepped down as White House chief of staff, with Stephen Miller taking her place, The Hill reported ^[3]. The Hill also reported that four Justice Department officials have left since the election, including Harmeet Dhillon, who led the department's Civil Rights Division ^[3].

In that climate, every rumor of an exit draws attention. Still, there is a difference between three unnamed sources and the man himself speaking on the record. Hassett and the White House both answered plainly and quickly, and that answer deserves at least as much weight as the anonymous account.

What Comes Next

For now, the official word is that Hassett is staying put ^[2]. Semafor's report remains on the record, and its own sources allowed that the timing could shift ^[1]. If a change were to come, the names Semafor floated point to continuity rather than a new direction: Bessent already speaks for the administration on fiscal and financial policy, and Zervos works at his side ^[1].

The larger test for the economic team lies ahead. Hassett's own forecast of record refunds put tax relief at the center of the administration's pitch to families ^[6], and his defense of tariffs rests on the promise of better wages at home ^[5]. With the president regrouping after a hard election ^[3], the White House will need its most persuasive economic voices to keep making that case, and on Friday its top economic adviser signaled he intends to be one of them.