Kevin Hassett: External factors may hinder US 3% economic growth target

Kevin Hassett, Director of the White House National Economic Council, stated that external factors may hinder the Trump administration from achieving its 3% economic growth target. Kevin Hassett said that driven by productivity gains and wage growth, the US economy should approach 4% growth rate, with investment in artificial intelligence supporting GDP growth, but pressure from slowing labor force growth and a sluggish real estate market. Kevin Hassett stated that the target of reducing the fiscal deficit to 3% of GDP may be affected by force majeure, and pointed out that the size of the US government debt has exceeded $40 trillion, of which external debt is about $15 trillion.