Top Trump Economic Advisor Clashes With CBS Host Over Hiring Slowdown
White House economic adviser Kevin Hassett said Sunday that recent U.S. economic data points to stronger growth than recent surveys of consumers and corporate executives suggest, arguing that sentiment has lagged behind underlying trends.
Speaking on CBS’ Face the Nation, Hassett said upcoming jobs data and real income growth show continued economic momentum, despite surveys indicating low consumer confidence and expectations of reduced hiring among some CEOs.
Hassett acknowledged that consumer sentiment remains subdued, citing a recent reading of 53.3, but attributed much of the decline to the federal government shutdown that ran from October through mid-November. He said consumer attitudes often weaken during periods of political uncertainty but tend to recover as economic conditions stabilize.
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When pressed by host Margaret Brennan on surveys showing business leaders anticipating slower hiring, Hassett pointed to the Federal Reserve’s outlook, noting that the central bank has expressed greater optimism about economic growth in the year ahead.
Hassett also highlighted fiscal and trade data, saying the federal budget deficit is projected to be significantly lower this year compared to last year and that the U.S. trade deficit has narrowed substantially. He argued that these trends, combined with income gains, could help ease inflationary pressures and move inflation closer to the Federal Reserve’s 2% target.
Brennan questioned how long it would take for voters to feel the impact of the economic improvements Hassett described. Hassett responded that consumer sentiment often trails economic data and said he expects public perceptions to improve as the effects of income growth and employment gains become more visible.
The interview comes as the administration continues to defend its economic record amid mixed signals from consumer surveys, business confidence reports, and inflation data.
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