Trump advisor Hassett: Emerging markets fallout, not US inflation, poses ‘biggest risk’ to economy

October 10, 2018


A more severe downturn in emerging markets is the “biggest risk” to the U.S. economy, not domestic inflation, a top economic advisor to President Donald Trump told CNBC on Wednesday.

“I’m very concerned about emerging markets. If you look at the indices, they’re heading in a way that’s a little bit troubling,” said Kevin Hassett, chairman of the Council of Economic Advisers.

He said he’s watching Turkey, Venezuela, Argentina, and China to see if stresses “lead emerging markets to head into a direction that’s more extremely south than we’ve seen so far.”

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