Trump White House National Economic Council DirectorKevin Hassettbragged to Fox Business Network anchorMaria Bartiromothat Americans are not just spending more at the gas pump — they’re spending more on everything.”
Hassett is thecheerful faceof PresidentDonald Trump’seconomic messaging operation — albeit a messenger prone to curious boasts likethe one wherehe celebrated the surge in credit card debt.
On Tuesday morning’seditionof Fox Business Network’sMornings With Maria, Hassett hit Bartitomo with another gem. Amid rampant inflation anddeadly pollson the economy, he boasted that Americans are “spending more on everything” as they spend more at the gas pump:
FOX ANCHOR MARIA BARTIROMO: You know, I’m looking at some morning notes this morning and BTIG is writing about the impact of a drop in oil on consumers.
And the analyst there writes that with the oil prices going down, the consumer sector could see a meaningful near-term tailwind.
What would be your best expectation in terms of the impact and how quickly an impact of a fall in oil prices might have on the consumer?
NATIONAL ECONOMIC COUNCIL DIRECTOR KEVIN HASSETT: Oh, it’ll be right away.
And again, like the 300 nautical mile thing is what the way you think about Europe and Asia and everything else, but in the U.S., you know, we’re basically self-sufficient in energy.
And the reason why the gas prices have been going up, for example, is that jet fuel prices are so high because of the disruption, say in Singapore, that our refiners have been turning the knobs towards jet fuel and away from gasoline a little bit. They can stop that pretty much as soon as the oil starts to land in Singapore.
And so I think that we should see very quickly energy prices, gas prices go back to where they should be.
Source: Drudge Report
