Hassett says Democratic midterm wave will not stop projected US data-centre growth
National Economic Council Director Kevin Hassett told CNBC that near-term scheduled data centres are unaffected by local ballot curbs, that growth can continue in welcoming states, and that Thursday’s tech plunge reflected political uncertainty.
Why it matters
Hassett’s remarks are the White House’s clearest attempt so far to talk markets off the ledge after Democrats took Congress and dozens of local ballots aimed at data centres. He argues projects already scheduled for the next couple of years are intact and that capital can migrate to friendlier states, while conceding politics added to Thursday’s AI-stock plunge. Ballotpedia’s tally that majorities backed restrictions in at least 46 of 50-plus initiatives remains the counterweight. Watch whether lenders and builders actually restart paused sites, and whether Democratic leaders answer with a national moratorium push.
Key facts
- CNBC Squawk on the Street, published ~15:55 UTC 6 Nov 2026
- Hassett: near-term scheduled campuses unaffected by ballot initiatives
- Ballotpedia: majorities backed curbs in ≥46 of 50+ initiatives
- Blamed Thursday tech plunge partly on political uncertainty
- Said growth can continue in welcoming states
- Trump Truth Social same day restated support for “Super Intelligence”