Kevin Hassett on AI, Tariffs, and Small Business Growth

Kevin Hassett, director of the National Economic Council and top economic advisor in the White House, joins host Gene Marks to break down what today's economy means for small businesses. They explore why companies using AI saw dramatic revenue growth over the past year, how economists read government data alongside private-sector indicators (like the Paychex Small Business Employment Watch), and why jobs and GDP numbers get revised so often. Kevin also shares practical ways owners can use AI to compete with larger firms, plus a few offbeat economic indicators worth watching.

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Topics include:00:00 – Episode preview and guest introduction01:16 – Kevin’s background and path to the White House03:27 – Tariffs and the economy09:12 – Using government data vs. private-sector data15:12 – Why government numbers get revised17:22 – The underreported positive: Side gigs & extra income20:00 – AI as a small business game changer25:04 - Why AI hasn’t replaced humans28:08 – Offbeat economic indicators33:06 – Wrap up and thank you

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DISCLAIMER:The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.