Kevin Hassett on Economic Success and Potential Federal Reserve Chair Role

Economic Indicators and Inflation

• 💡 Core wholesale prices rose less than expected in September, signaling a potential cooling of inflation.
• ⛽ National average gas prices are at a 4-year holiday low, with prices under $3 in nearly 30 states.
• 🦃 The average cost of a Thanksgiving dinner for 10 people is down 5% this year, according to the American Farm Bureau Federation.

Economic Performance Under Trump vs. Biden

• 🚀 President Trump is credited with creating a "golden age" for the American economy, with two consecutive quarters of approximately 4% growth.
• 📉 Inflation is reported to be significantly down, with prices for goods like turkey and gas decreasing.
• 💰 Under Biden, inflation outpaced wage growth for 26 straight quarters, reducing real purchasing power by about $3,000 for Americans.
• 📈 Since Trump's return, purchasing power has increased by $1,200, with a projected increase of $6,500 in the first term.
• 📰 The media is criticized for misrepresenting economic data, such as reporting retail sales as collapsed when they were actually up year-over-year.

Potential Role as Federal Reserve Chair

• 💬 Kevin Hassett has discussed the possibility of becoming the next Fed chair with President Trump.
• ✅ Hassett stated that if offered the position, he would have to say yes to serve his country and president.
• 📊 He believes the Federal Reserve should cut interest rates in December, seeing it as a positive sign that they are looking at data and acting appropriately.