Hassett calls US economy a boom, urges Fed watch on wages
Kevin Hassett, who leads the National Economic Council, told CNBC on Monday that rising wages are fueling consumer demand. He said the Federal Reserve should watch that demand as it weighs interest rates.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
Kevin Hassett, director of the White House National Economic Council, said on Monday that the U.S. economy is in a boom. Speaking on CNBC's Squawk Box, he said rising wages were driving more consumer demand and that the Federal Reserve needs to monitor this. He also said people are feeling euphoric about the economy.
Why it matters
Hassett said the Federal Reserve needs to watch the wage-driven demand, which bears on its interest rate outlook. He also said inflation needs more action.
Coverage
- Kevin Hassett: "People are feeling euphoric" about the economy (CNBC)
- Kevin Hassett Says The Economy Is In A Boom (TradingView)
- Hassett Says Optimism Is Growing Around Strong US Economy, but Inflation Needs More Action (en.bloomingbit.io)
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