White House economic director downplays economic anxiety amid higher prices
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
Asshat needs to step out of his bubble.
no_hypocrisy
(55,513 posts)dem4decades
(14,462 posts)saif
(3 posts)People are still feeling high prices in daily life, so downplaying the concern doesnt match reality.
Karasu
(2,130 posts)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 theyre fooling at this point.
Cheezoholic
(3,981 posts)Earth Bound Misfit
(3,591 posts)excluding Stephen Miller, of course.
sakabatou
(46,425 posts)Skittles
(173,178 posts)I'm calling BS
IronLionZion
(51,609 posts)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
(3,150 posts)with insider stock trading and all the other scams this gang is operating?
Aussie105
(8,234 posts)"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
(9,147 posts)...pretty much sums up his job description.