Economist Kevin Hassett joins Margaret Hoover to talk about economic policies laid out by former President Donald Trump and Vice President Kamala Harris in their debate this week.

Hassett, who chaired the White House Council of Economic Advisers in the first Trump administration, defends Trump’s handling of the economy both before and during the COVID-19 pandemic and blames the Biden administration for the spike in inflation since then.

He assesses Harris’ “opportunity economy” agenda and the potential impact of policies like small business tax credits, housing down payment assistance, and taxing unrealized capital gains. He also explains why he sees Harris’ policies as socialist.

Hassett outlines how Trump’s first-term tariffs worked and how Trump may approach trade policy in a second term. He also reflects on the Republican Party’s evolving position on free trade.

Hassett discusses the likelihood of an interest rate cut and the importance of an independent Federal Reserve. He also addresses whether the economy is in a recession and whether Trump returning to the White House poses a threat to democracy.

Support for “Firing Line with Margaret Hoover” is provided by Robert Granieri, Vanessa and Henry Cornell, The Fairweather Foundation, Charles R. Schwab and Al and Kathy Hubbard. Corporate funding is provided by Stephens Inc.