{"id":149694,"date":"2025-11-20T07:03:17","date_gmt":"2025-11-20T07:03:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/149694\/"},"modified":"2025-11-20T07:03:17","modified_gmt":"2025-11-20T07:03:17","slug":"cnbcs-joe-kernen-presses-kevin-hassett-to-admit-claim-of-falling-prices-is-not-true","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/149694\/","title":{"rendered":"CNBC\u2019s Joe Kernen Presses Kevin Hassett to \u2018Admit\u2019 Claim of \u2018Falling\u2019 Prices Is \u2018Not True\u2019"},"content":{"rendered":"

During a recent episode of CNBC\u2019s Squawk Box, host Joe Kernen engaged in a heated exchange with Kevin Hassett, the director of the National Economic Council, regarding the Biden administration\u2019s assertions about falling prices. Kernen urged Hassett to acknowledge that the administration\u2019s claims did not align with the reality faced by many Americans, particularly as polling indicates widespread skepticism about the government\u2019s messaging on inflation.<\/p>\n

Kernen highlighted that, despite inflation having eased since its peak, it remains at a level that continues to impact financial realities for American families. He pointed out that real average weekly wages had decreased by approximately $5,000 under the Biden administration, due in part to rising inflation. Kernen argued, \u201cInflation is still 3% \u2013 it\u2019s still too high!\u201d He insisted that the claim of falling prices was misleading, emphasizing that existing inflation levels meant overall costs were still rising.<\/p>\n

In defense of the administration\u2019s stance, Hassett countered that purchasing power had increased this year by about $1,200. He described the current economic situation as a \u201c$3,000 hole\u201d that Americans were beginning to escape, crediting wage growth and policies designed to lower costs in various sectors. Hassett criticized the opposition for blaming the administration for persistent cost issues, particularly critiquing the structure of Obamacare subsidies.<\/p>\n

Kernen probed deeper, questioning the administration\u2019s recent decision to reverse certain tariffs as a means to improve affordability. He suggested that such a move could imply an acknowledgment of tariffs contributing to higher prices. Hassett rebuffed this concern by claiming the administration had always acted based on economic prudence in trade agreements.<\/p>\n

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The conversation shifted towards the Federal Reserve when Kernen referenced an article by former Fed board member Kevin Warsh regarding potential reforms. Hassett defended the importance of having an independent central bank but admitted that current leadership had made missteps. Kernen quipped about the perception of Hassett\u2019s closeness to the administration, to which Hassett responded with a firm denial, maintaining that the Fed should operate independently and be data-driven in its approach.<\/p>\n

As the discussion continued, Kernen lightheartedly referenced a truck passing by, jokingly linking it to a controversial $300 million ballroom project funded privately at the White House. When pressed about the project, Hassett struggled to make a connection, noting that the demolished East Wing was merely a small part of the larger White House complex.<\/p>\n

Kernen concluded by reiterating the ongoing risks associated with the Fed\u2019s dual mandate of maximizing employment and promoting stable prices, alluding to current challenges faced on both fronts. Hassett acknowledged the Fed\u2019s past policy errors but remained optimistic about its ability to fulfill its mission effectively moving forward.<\/p>\n","protected":false},"excerpt":{"rendered":"During a recent episode of CNBC\u2019s Squawk Box, host Joe Kernen engaged in a heated exchange with Kevin…\n","protected":false},"author":2,"featured_media":149695,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-149694","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/149694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=149694"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/149694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/149695"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=149694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=149694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=149694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}