Title: Kevin Hassett Calls for Holistic View of Economic Data Amidst Price Concerns

White House National Economic Council Director Kevin Hassett argued on Sunday that media coverage of economic developments often fixates excessively on short-term negatives. During an appearance on ABC’s "This Week," Hassett observed that the administration frequently hears only about specific consumer price metrics that appear underwhelming. "One of the things I've noticed here at the White House is, whatever piece of consumer price that is looking like it’s a little bit disappointing, it’s the only thing we talk about," he stated.

Hassett’s comments came in response to inquiries regarding gasoline costs, which have surged following the commencement of military operations by the United States and Israel against Iran in late February, and their subsequent effect on inflation rates. He urged the public and policymakers alike to consider the broader economic landscape rather than focusing narrowly on volatile sectors like energy. "What you need to do is smooth through the ups and downs, look at what’s happening to real wages," Hassett advised.

He pointed to positive indicators such as rising employment, a strengthening stock market, and robust corporate profits as factors that are positively influencing compensation. "If you look at it, because there are more people working and because the stock market’s moving, profits are high, and that’s feeding through into wage and salaries," he explained.

Host Jonathan Karl pressed Hassett on this optimistic outlook, noting the prevailing public sentiment: "People seem anxious and uneasy about the economy, don’t they?" Hassett countered that individual financial assessments often tell a different story. "Look, in the end, people look at their wallets," he told Karl, suggesting that voters judge the economy based on their personal financial health. He concluded that when Americans account for price increases against their current income, they will discover they possess greater purchasing power than they might assume. "They decide how to vote. And if they look at their wallets and look at how much money they have after, you know, the increase in prices, they’re going to find that they have a lot more money."

Source: Yahoo News Generated at: 2026-06-02 10:41:29 UTC