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Earlier this month, Kevin Hassett, director of the National Economic Council, said that Americans should be allowed to buy a home
using money from their 401(k) plans as a down payment. Often, politicians float trial balloons like this in the media to gauge public reaction.
The reaction wasn’t so good, which helps explain why Hassett’s boss, President Trump, said in a speech last week that he’s “not a huge fan” of the idea. After all, he went on, a 401(k) plan is supposed to help Americans save for retirement. He also bragged that the stock market has done well during his first year in office, and predicted that it will continue to rise.
