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Photo: Alex Wong/Getty Images

White House adviser Kevin Hassett will leave the administration this summer, after returning in March to help the president respond to the economic fallout from the coronavirus pandemic, according to two administration officials.

Why it matters: Hassett has shown an ability to translate economic numbers into tangible terms for the president, steering Trump to support more stimulus and relief. His departure could cede power to administration officials who oppose a $2 trillion package and worry about the deficit.

  • Hassett's exit will deprive the president of another voice defending him on cable TV.
  • It also drains more in-house expertise ahead of the election. Andrew Olmem, a deputy on the National Economic Council, left his post on Friday.

Details: Hassett, who served as Trump’s first Council of Economic Advisers chair, has consistently warned about the economic downsides from the pandemic and has pushed for more spending to combat an unemployment rate that he’s warned could hit 23%.

  • Hassett has been cautious about the health dangers of COVID-19, promoting the use of face masks.
  • He's also argued — both internally and on television — for a large phase four economic package, including more direct payments to individuals and extending unemployment insurance benefits.

The bottom line: Hassett is an unpaid adviser and always planned for his White House return to be temporary. After leaving his CEA post in the spring, he had been serving as a distinguished visiting fellow at Stanford University's Hoover Institution and vice president and managing director of The Lindsey Group. He'll return to those positions.

  • The president can keep Hassett on speed dial. But Hassett will be leaving before the final stretch of Trump's re-election bid and as the White House tries to make sense of some dizzying numbers in an economic and health crisis with both short- and long-term challenges.

Go deeper

The price of Washington's stimulus failure

Illustration: Eniola Odetunde/Axios

America's elected representatives have failed America.

Why it matters: The bipartisan inability to deliver economic stimulus could impede economic growth for months to come. It will create widespread damage across America — from small businesses to large industries to schools and day cares — and leave many Americans without jobs or homes.

Wall Street braces for more turbulence ahead of Election Day

Illustration: Eniola Odetunde/Axios

Wall Street is digging in for a potentially rocky period as Election Day gets closer.

Why it matters: Investors are facing a "three-headed monster," Brian Belski, chief investment strategist at BMO Capital Markets, tells Axios — a worsening pandemic, an economic stimulus package in limbo, and an imminent election.

Dave Lawler, author of World
3 hours ago - World

How Biden might tackle the Iran deal

Photo illustration: Aïda Amer/Axios. Photo: Drew Angerer/Getty Images

Four more years of President Trump would almost certainly kill the Iran nuclear deal — but the election of Joe Biden wouldn’t necessarily save it.

The big picture: Rescuing the 2015 Joint Comprehensive Plan of Action (JCPOA) is near the top of Biden's foreign policy priority list. He says he'd re-enter the deal once Iran returns to compliance, and use it as the basis on which to negotiate a broader and longer-lasting deal with Iran.