Sign up for a daily newsletter defining what matters in business and markets

Stories

Trump: Top economic adviser Kevin Hassett to leave White House

Kevin Hassett, Chairman of the Council of Economic Advisers, speaks during a briefing at the White House in Washington, DC, on September 10, 2018.
Council of Economic Advisers chairman Kevin Hassett. Photo: Nicholas Kamm/AFP/Getty Images

Kevin Hassett, who has served as chairman of the Council of Economic Advisers since September 2017, will soon step down from his post, President Trump announced Sunday.

"Kevin Hassett, who has done such a great job for me and the Administration, will be leaving shortly. His very talented replacement will be named as soon as I get back to the U.S. I want to thank Kevin for all he has done — he is a true friend!"
— Trump tweet

Why it matters: Hassett is leaving in the middle of a multifront trade war launched by the U.S. The former scholar at the conservative American Enterprise Institute is the latest in a long line of senior White House officials to leave the administration since Trump took office in January 2017.

The big picture: Hassett said he considers the post to be a 2-year position and his departure has nothing to do with the trade war, according to the Washington Post. "The trade story and the departure story are completely different stories,” he said, per the Post.