Hassett dismisses negative economic polls: ‘We are in a boom’
Hassett dismisses negative economic polls: ‘We are in a boom’
Kevin Hassett, the director of the National Economic Council (NEC), dismissed recent polling on Monday, instead arguing the U.S. economy is “in a boom.”
During an interview on CNBC’s “Squawk Box,” Hassett said consumer spending indicates the economy remains strong.
“If economic polls … were correct, then people wouldn’t be taking trips to nice hotels, they wouldn’t be flying, they wouldn’t be buying cars, they wouldn’t be doing all the things they do when they’re feeling good about the economy,” the NEC director told host Joe Kernen.
Consumer spending increased by $190.7 billion from July to August, a figure that took into account the annual inflation rate of 3.4 percent, as measured by the personal consumption expenditures price index.
Hassett argued Monday that “true sentiment” of the economy is “best measured by what you see” Americans doing.
“And what people are doing is........
