Kevin Hassett Defends Trump's Economic Record and National Address

Defense of Trump's National Address

• 🎤 Kevin Hassett praised President Trump's recent national address as a "home run speech," highlighting the attention to detail and the use of charts to present data.
• 📺 He noted that while some networks showed the supporting charts, others did not, which he considered an "unfortunate choice" for those that omitted them.

Economic Policy and Inflation

• 📉 Hassett agrees with President Trump that there is room for interest rates to go lower, stating it is appropriate based on current data.
• ⚠️ He explains that discussions about inflation are restricted until after the Consumer Price Index (CPI) data is released at 8:30 AM, due to embargo rules.
• 📊 Hassett attributes current inflation to "terrible policies" of the past, specifically mentioning increased demand from government spending coupled with reduced supply due to regulation and taxation.
• 💡 He advocates for policies that increase supply to achieve high growth and low inflation, contrasting this with a purely demand-focused approach.

Economic Progress and Housing Affordability

• 🏠 Hassett acknowledges that while progress has been made in reducing the deficit and lowering mortgage costs, the "hole dug by the policies of the previous administration" is deep and will take time to fully fill.
• 💰 He states that Americans have lost purchasing power under the previous administration but have gained some back under current policies, though still remaining in a net negative position.
• 🏘️ The White House economic team is working on policies to lower home prices, especially for first-time buyers, with proposals expected for Congress in the new year.

Unemployment Figures

• 📉 Hassett explains that the difference between reported unemployment numbers and the President's figures can be attributed to reduced federal employment (250,000 workers) due to tightened government spending, which has reduced the deficit by $600 billion.