Kevin Hassett, director of the White House National Economic Council, stated that the AI sector is supported by robust private investment and does not pose a financial crisis risk. Speaking at the Economic Club of New York on September 28, 2026, he highlighted that AI-driven infrastructure, such as data centers and semiconductors, is a key driver for economic growth.
Research cited by Hassett from Columbia University professor Stijn Van Nieuwerburgh projects that AI-related investment in the US will reach $10.3 trillion between 2025 and 2032. This annual investment is expected to account for approximately 3.63% of the national GDP, reflecting a sustained commitment to hardware and physical infrastructure.
Hassett forecasts that US GDP could grow by 4% annually, provided there are no external shocks. This projection exceeds the administration's 3% target and doubles private-sector estimates of 2%. He noted that companies adopting AI technologies demonstrate increases in sales, employment, and wages due to higher worker productivity.
Addressing the national debt, which currently exceeds $40 trillion, Hassett suggested that AI-driven productivity gains could help manage the burden. He emphasized that the private sector should lead in managing AI risks, citing proposals from companies like Anthropic as a preferred alternative to government-led regulation.
