{"id":512429,"date":"2026-01-13T05:11:09","date_gmt":"2026-01-13T05:11:09","guid":{"rendered":"https:\/\/www.europesays.com\/us\/512429\/"},"modified":"2026-01-13T05:11:09","modified_gmt":"2026-01-13T05:11:09","slug":"trumps-economy-is-booming-despite-feds-highest-interest-rates-on-earth-says-kevin-hassett-presidents-policies-are-really-working","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/512429\/","title":{"rendered":"Trump’s Economy ‘Is Booming’ Despite Fed’s ‘Highest Interest Rates On Earth,’ Says Kevin Hassett: President’s Policies ‘Are Really Working’"},"content":{"rendered":"

Director of the National Economic Council Kevin Hassett<\/strong> defended the strength of the U.S. economy under President Donald Trump<\/strong>, saying that it was thriving despite the Federal Reserve\u2019s tight monetary policy.<\/p>\n

Trump\u2019s Economy \u2018Is Booming\u2019<\/p>\n

Hassett said that the \u201ceconomy is booming right now because of Trump’s policies,\u201d and not because of the Federal Reserve, while appearing<\/a> on CNBC\u2019s \u201cSquawk Box\u201d on Monday.<\/p>\n

\u201cThe Fed has amongst the highest interest rates on Earth right now, and President Trump is frustrated with that,\u201d he said, while noting that this has nothing to do with<\/a> the Department of Justice\u2019s decision to pursue a \u201ccriminal indictment\u201d against Fed Chair Jerome Powell<\/strong>. <\/p>\n

Asked whether the Fed deserved any credit for not getting in the way of positive developments, Hassett pushed back, calling instead for \u201ca little bit more introspection\u201d from central bankers.<\/p>\n

\u201cWe let inflation get out of control,\u201d he said, referring to the peak 9.1% year-over-year inflation<\/a> in 2022, the highest reading since 1981. \u201cIt’d be nice to know how that happened, and nice to know that we have a plan to make sure it doesn’t happen again.\u201d<\/p>\n

Hassett pointed to strong growth and factory activity as evidence that the administration’s policies are driving momentum. \u201cWe got GDP now north of 5% in the fourth quarter after 2.4% the previous quarter,\u201d he said, adding that Trump\u2019s policies \u201care really working.\u201d<\/p>\n

Tariffs Driving Manufacturing Job Losses<\/p>\n

The latest jobs report by the U.S. Bureau of Labor Statistics, however, paints a different picture, with employers adding just 584,000 jobs<\/a> during the whole of 2025, which marks a steep decline from 2 million jobs in 2024, alongside the weakest annual wage growth outside of a recession since the early 2000s. <\/p>\n

Moody\u2019s Analytics Chief Economist Mark Zandi<\/strong> blames this on Trump\u2019s trade and tariff policies, saying, \u201cThis reflects the direct effects of the tariffs on manufacturing, transportation and distribution,\u201d on Sunday, in a post on X.<\/p>\n

Joel Griffith<\/strong>, a Senior Fellow at Advancing American Freedom, noted that the manufacturing sector has recorded eight-straight months of job losses, starting in April, when Trump\u2019s \u201cLiberation Day\u201d tariffs were first announced.<\/p>\n

\u201cTrump\u2019s tariffs are hammering the manufacturing sector,\u201d he said, in a post on X last week, the very sector that they were meant to save<\/a>.<\/p>\n

Photo courtesy: Evan El-Amin on Shutterstock.com<\/p>\n","protected":false},"excerpt":{"rendered":"Director of the National Economic Council Kevin Hassett defended the strength of the U.S. economy under President Donald…\n","protected":false},"author":3,"featured_media":512430,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[64,216028,229026,229025,54682,5009,79,5008,54683,229027,229028,229029,229030,67,132,68],"class_list":{"0":"post-512429","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-category-economics","10":"tag-category-federal-reserve","11":"tag-category-government","12":"tag-category-politics","13":"tag-cms-wordpress","14":"tag-economy","15":"tag-pageisbzpro-bz","16":"tag-tag-donald-trump","17":"tag-tag-jerome-powell","18":"tag-tag-joel-griffith","19":"tag-tag-kevin-hassett","20":"tag-tag-mark-zandi","21":"tag-united-states","22":"tag-unitedstates","23":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115886075658525908","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/512429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=512429"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/512429\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/512430"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=512429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=512429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=512429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}