WH economic director downplays Americans' economic anxiety

Sunday, May 31, 2026

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. "Look at what's happening to real wages," Hassett told ABC News' "This Week" co-anchor Jonathan Karl, claiming "really positive news" about the economy was being ignored. "On balance, real incomes, real wages are going up."

Posted by lamplighter at 02:49 PM | 2 COMMENTS | permalink | Comment on This Entry |

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... 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 | Reply

"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 | Reply