Hassett Dismisses $4.49 Gas as Temporary, Says Americans Are Spending More on Everything
Updated
Updated · The Independent · May 26
Hassett Dismisses $4.49 Gas as Temporary, Says Americans Are Spending More on Everything
2 articles · Updated · The Independent · May 26
$4.49 average U.S. gasoline prices did not shake Kevin Hassett’s upbeat message Tuesday, as Trump’s top economic adviser said higher spending beyond fuel shows consumers remain optimistic.
Hassett blamed the inflation spike on the Iran war and blockades around the Strait of Hormuz, calling it a temporary disruption that could ease faster than expected, though he gave no timeline.
44.8 consumer sentiment, a record low in the University of Michigan survey, was brushed off by Hassett as politically skewed even as Fox Business pressed him on affordability.
16% of Americans now rate economic conditions as good or excellent, Gallup said, while Republican approval of Trump’s economic handling fell to 63% from 78% in the latest AP-NORC poll.
Food-at-home prices rose 2.9% in April and dining-out costs climbed 3.6%, underscoring the affordability pressure facing the White House ahead of the midterms.
Can new tax breaks for workers truly offset record-high household debt and soaring living costs fueled by inflation?
With new policies projected to add trillions to the deficit, is the current AI-fueled economic boom built to last?
As AI automates millions of jobs, will its promised economic boom create enough new roles to prevent widespread unemployment?