Monday, June 01, 2026

White House Economic Director Downplays Americans' Economic Anxiety

National Economic Council Director Kevin Hassett painted a rosy picture of the economy Sunday, downplaying Americans' growing pessimism about the economy amid high gas prices and rising inflation as the Iran war goes on.

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Okay, honestly? It's too easy to beat up on Kevin Hassett. There should be a mercy rule.

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-- Kai Ryssdal (@kairyssdal.bsky.social) 12:08 PM · May 31, 2026

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More from the article ...

... The latest report from the Bureau of Labor Statistics showed that wages did not increase at the same pace as inflation in April; wages were up 3.6% for the year and inflation was up 3.8%.

In two recent surveys, Americans' view of the U.S. economy soured.

In Gallup's latest survey, Americans' economic confidence dropped to the lowest point since October 2022. Additionally, the University of Michigan released its twice-monthly consumer sentiment survey the same day; consumer sentiment fell for the third straight month, reaching the lowest number ever recorded and dropping 10% since April.

When pressed by Karl on the anxiety expressed by Americans over the war's impact on the economy, specifically rising energy prices, Hassett argued that Americans will look positively on their economic situation when making political decisions. ...


#1 | Posted by LampLighter at 2026-05-31 02:51 PM

"wages were up 3.6% for the year and inflation was up 3.8%."

If they're admitting 3.8%, it's probably double that amount.

Anyone here think 3.8% passes the smell test???

#2 | Posted by Danforth at 2026-05-31 02:57 PM

Fun thing about being in Canada all the prices seem the same, but the you find out they're really 30% less. It's like everything is free!

#3 | Posted by LegallyYourDead at 2026-05-31 10:06 PM

I Think the Trump Administration has found its own 'Baghdad Bob' to put forth a comedy routine recognized by all but the speaker...

#4 | Posted by catdog at 2026-06-01 03:46 PM

"I would guess that by the first quarter of next year, we'll be back at the 3% or 4% growth pace" - Kevin Hassett November 11, 2025

His estimate wasn't anywhere close to the 1.6 growth reported by the Commerce Department. He wasn't even in the same state much less in the ball park. He should be questioned about what method he used to arrive at such an estimate.

#5 | Posted by johnny_hotsauce at 2026-06-01 04:20 PM

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