{"id":356,"date":"2026-06-01T11:36:51","date_gmt":"2026-06-01T11:36:51","guid":{"rendered":"https:\/\/movingandmortgagehub.com\/?p=356"},"modified":"2026-06-01T11:36:51","modified_gmt":"2026-06-01T11:36:51","slug":"trumps-top-economic-adviser-doesnt-seem-to-get-that-people-are-struggling","status":"publish","type":"post","link":"https:\/\/movingandmortgagehub.com\/?p=356","title":{"rendered":"Trump\u2019s Top Economic Adviser Doesn\u2019t Seem to Get That People Are Struggling"},"content":{"rendered":"
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On Fox News <\/span>Sunday morning, President Donald Trump\u2019s lead economic policy adviser, Kevin Hassett, dismissed Americans\u2019 struggles to cover the rising cost of living by noting that people are \u201cspending more.\u201d\u00a0<\/p>

Read more How an Obscure MAGA-Linked Firm Lined up $1 Billion in Balkan Energy Contracts<\/a><\/p>\n

But Kevin, isn\u2019t that the problem?<\/p>\n

When the host questioned Hassett, director of the National Economic Council, on why folks are delinquent on credit card payments at the highest rate in 15 years, he replied, \u201cPeople are spending more on gas, but they\u2019re also spending more on everything else. Not just groceries but restaurants.\u201d\u00a0<\/p>\n

\u201cThat\u2019s a sign that you would see when people are optimistic about the future,\u201d Hassett continued, noting that people usually spend less money when they\u2019re worried about job security or affording rent. <\/p>\n

In fact, when measuring non-necessities, it may be the optimism of higher-income Americans that\u2019s propping up the spending numbers. Moody\u2019s Analytics reported, based on its analysis of federal data, that the top 10 percent of earners were behind much of last year\u2019s consumer spending.\u00a0And although Moody\u2019s numbers have been questioned by some economists, a roaring stock market\u2014the S&P has gained 25 percent since Trumpreturned to office\u2014has channeled truckloads of cash into the coffers of the richest 10 percent of Americans, who, according to data from the St. Louis Fed, own more than 87 percent of all public equities and mutual funds. (The bottom half of US families only own about 1 percent of those assets.)<\/p>

Read more New Jersey Officials Impose Curfew to Stifle Anti-ICE Protests at Delaney Hall<\/a><\/p>\n

So, even as Hassett downplays Bureau of Labor Statistics data showing that inflation is increasing faster than wages, and President Trump dismisses the notion of affordability as a \u201choax\u201d and a \u201ccon job,\u201d US consumersare feeling the effects.<\/p>\n

Part of his response to the Fox host\u2019s question on credit card delinquency data seemed particularly telling as to the administration\u2019s priorities: \u201cWe talk to the CEOs of the credit card companies all the time and we do see some increased stress,\u201d he said, but \u201cthere\u2019s not any kind of financial threat to the credit card companies.\u201d\u00a0<\/p>

Read more I Asked a Mining Billionaire About His Environmental Philanthropy. It Didn\u2019t Go Well.<\/a><\/p>\n<\/article>","protected":false},"excerpt":{"rendered":"

Kevin Hassert says higher consumer spending reflects optimism\u2014not high prices.<\/p>\n","protected":false},"author":1,"featured_media":354,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"yoast_head":"\nTrump\u2019s Top Economic Adviser Doesn\u2019t Seem to Get That People Are Struggling - Moving and Mortgage Hub<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/movingandmortgagehub.com\/?p=356\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump\u2019s Top Economic Adviser Doesn\u2019t Seem to Get That People Are Struggling - Moving and Mortgage Hub\" \/>\n<meta property=\"og:description\" content=\"Kevin Hassert says higher consumer spending reflects optimism\u2014not high prices.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/movingandmortgagehub.com\/?p=356\" \/>\n<meta property=\"og:site_name\" content=\"Moving and Mortgage Hub\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-01T11:36:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/movingandmortgagehub.com\/wp-content\/uploads\/2026\/06\/555baab3de91f598cfe7d60ae1920952-1024x576.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/movingandmortgagehub.com\\\/?p=356#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/movingandmortgagehub.com\\\/?p=356\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/movingandmortgagehub.com\\\/#\\\/schema\\\/person\\\/6b7c79bcfd888d98f34c5413df7e81a2\"},\"headline\":\"Trump\u2019s Top Economic Adviser Doesn\u2019t Seem to Get That People Are Struggling\",\"datePublished\":\"2026-06-01T11:36:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/movingandmortgagehub.com\\\/?p=356\"},\"wordCount\":396,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/movingandmortgagehub.com\\\/?p=356#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/movingandmortgagehub.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/faf46a3e6eb0d0d83ded4907ac9e5ff7.webp\",\"articleSection\":[\"Politics\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/movingandmortgagehub.com\\\/?p=356#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/movingandmortgagehub.com\\\/?p=356\",\"url\":\"https:\\\/\\\/movingandmortgagehub.com\\\/?p=356\",\"name\":\"Trump\u2019s Top Economic Adviser Doesn\u2019t Seem to Get That People Are Struggling - 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