White House economist paints rosier picture as gas prices bite

White House National Economic Council Director Kevin Hassett argues that real incomes are rising and Americans’ wallets feel larger despite ongoing inflation and high gas prices, downplaying broad economic anxiety. He cites 3.6% wage growth versus 3.8% inflation and says voters will focus on their finances. Hassett acknowledges energy-price pain but expects relief as Gulf disruptions subside, and he dismisses alarm over oil inventories while insisting there is ample runway to manage supply.