White House economic director downplays economic anxiety amid higher prices

[Yo_Mama_Been_Loggin]

Source: ABC News

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."

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.

Read more: https://www.yahoo.com/news/politics/articles/white-house-economic-director-downplays-143535360.html

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Asshat needs to step out of his bubble.

[no_hypocrisy]

1. Gaslighting

[mgardener]

18. And blatent

Lying.

[dem4decades]

2. Hasslet, the grinning NAZI.

[peppertree]

20. That one puts the ASS in Hassett

Comes off as another closet case, too.

[saif]

3. White House economic director downplays economic anxiety amid higher prices

People are still feeling high prices in daily life, so downplaying the concern doesn’t match reality.

[Karasu]

4. Republicans don't give a fuck about "real wages", or else they'd support tying them to the cost of living. Completely

disingenuous bullshit.

Every day now, one of these dumbasses makes an out-of-touch “Let them eat cake" statement like this, and I really have to wonder who they even think they’re fooling at this point.

[Cheezoholic]

5. Only themselves lol n/t

[Earth Bound Misfit]

6. Most punchable face in The Beltway...

excluding Stephen Miller, of course.

[sakabatou]

7. "Pay no attention to the man behind the curtain!"

[Skittles]

8. wages are up 3.6% for the year?

I'm calling BS

[JT45242]

14. Would love to know the median raise...

A couple of ceo huge raises and in dollars that might work, if limited to the fully employed.

But, I know my company gave us ZERO percent across the board while praising us for exceeding our profit goal for the year.

Big bonuses for the c suite based on profits, but nothing for the worker bees.

May be a mass exodus if they pull the same stunt again.

[es466]

17. Making America Great Again -- for the top 1%

[Skittles]

24. right?

I remember constantly hearing that "we're not able to give raises this year" when of course the people at the top were getting big time bonuses.

[IronLionZion]

9. Inflation is great for his stocks

higher prices means more revenue for the same amount of goods and services. So inflation has been raising stock prices. Who knows how long that will last.

Until consumers cut back on purchases. Then the house of cards comes falling down. America's economy is driven by consumer demand.

[Bluetus]

10. Let them eat cake. And how much has he dealt himself

with insider stock trading and all the other scams this gang is operating?

[Aussie105]

11. This White House economic director . . . what is his income?

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

And we just know how fudged and how massaged those numbers are, don't we?

The Man in the Street looks at his pay packet, then the price of things, and calls 'Baloney!' real loud.

Same in Australia, the official numbers don't match reality.

[skypilot]

12. Your subject line...

...pretty much sums up his job description.

[Figarosmom]

13. He's part of the society that uses his money

To make more money. They thing when regular working folk use a credit card for everyday purchases it's a good thing. Even though credit card defaults are at it's highest level ever. People used to pay off their balances every month. Now they carry balances and have large interest rates. With gas prices so high and so many people traveling more than 20 miles to work every day those defaults are going to surge.

There isn't anyone in trumps treasury or cabinet positions that have a clue how everyday Americans live and just think we can just go out and borrow money on high interest revolving accounts. What's the big deal is what they think.

[OldBaldy1701E]

15. "Asshat needs to step out of his bubble."

They'd curl up in a ball and wail if they had to actually live in the real world.

It is one of the reasons I am SO tired of rich people being elected to represent this nation in any capacity. They don't know how most of it even works, but we still think they are the most intelligent people. Because, for some reason, we have been programmed to think that the greediest, most inhuman people are the best choices.

A delusion we really need to start recognizing.

[es466]

16. I hate this guy's smirking face. He is a an asskisser, speaking to an audience of one. I'll let you guess who that is.

[Botany]

19. We are fucked. The National Debt is now greater than the United States G.D.P.

Thanx to Figrosmom for posting this video.

[Attilatheblond]

21. Prices of yachts and diamond bangles probably not rising near the % that milk, produce, rent, & kids shoes are

Seems there are some great deals on Ebola Cruises for those few who have discretionary funds. Considering the die of among the country club/regular golfers generation, there might be lower inflation on fancy club memberships.

But people who actually work and have to live on wages are NOT doing OK. These 'economic experts need to have their bank cards and house/car keys confiscated so they can spend 6 months at a real job and living off the wages Americans are struggling with. Make them put down a deposit and pay rent, ride the bus, and try to fill the larders in their tiny apartments on what corporations are willing to pay the regular workers who actually power the US economy.

[Justice matters.]

22. Eat cake, peons.

From the marie-antoinette liar whose marriage would be illegal in SC if President Obama had not pushed to make it legal nationwide...

These privileged one-percenters are disgusting. Not one "thank you mister President," nope.

[Ol Janx Spirit]

23. Disingenuous at best:

Workers without a college degree have seen a year-over-year inflation-adjusted wage increase of roughly 1.5%, while the overall national average for all private-sector employees reflects a 3.4% nominal increase in weekly earnings.

By educational attainment, full-time workers age 25 and over without a high school
diploma had median weekly earnings of $784, high school graduates (no college) had
earnings of $977, and those holding a bachelor's degree and higher had earnings of $1,763.
Among college graduates with advanced degrees (master's, professional, and doctoral
degrees), the highest earning 10 percent of male workers made $5,348 or more per week, and
their female counterparts made $3,499 or more.

https://www.bls.gov/news.release/pdf/wkyeng.pdf

Approximately 55% of the US civilian labor force does not possess a four-year college degree.
https://www.ccdaily.com/2025/09/datapoints-educational-attainment-in-the-u-s/

The annual salary for the Director of the National Economic Council is currently $195,200.00--or about $3,754.00 per week. Government ethics disclosures revealed that his total assets are worth at least $7.6 million.

The real-world economic impact of inflation is vastly different for lower-income earners who have to spend spend a much larger share of their money on non-negotiable basic necessities. And when you do things to make those basic necessities more expensive it really affects them in a much larger way.

It is also a good bet that the lower-income earner doesn't have a stock market portfolio like Hassett does. So far in 2026, a $7.6 million investment in the broad stock market would have earned between $866,400 and $950,000--or between $39,380.00 and 43,181.00 per week.

It is very easy for him to believe workers are just complaining for nothing. He doesn't even understand why they aren't grateful....

Maybe Hassett can, but we can't ignore that over 13% of cardholder balances are 90 or more days overdue, marking the highest delinquency levels since 2011. And, the U.S. personal savings rate dropped to roughly 4%, down from 6.2% in early 2024.

But by all means Kev, tell us how good things are out here....