"I wonder how you read the message from the elections that we just had, the big wins for Democrats, not just the New York mayoral election, the governor's races in Virginia and New Jersey. Because there is this feeling that people, I know that inflation has come down from the Biden era, but it's still elevated. And those cumulative gains in things like beef prices and coffee prices, the everyday items that people face are still high. And that is something that President Trump ran on. I do wonder what What sort of economic takeaways you have from the Big Dem wins."
"Oh, sure. You make a really great, great point, Sarah. And the thing is that under Biden, because the inflation spiked so much, that real incomes, which is like the real purchasing power of ordinary folks, on average, went down by about $3,400. And since President Trump took office, real incomes have gone up. That means purchasing power has gone up by about."
"(PICTURE FREEZES) SARA EISEN: Oh, no, we lost your camera. Oh, I was waiting to hear the answer on that one Oh, wait, you're back. You're back! Kevin Hassett, are you there? Yeah. Sorry, the shot froze for a little bit. KEVIN HASSETT: I was just about to make my best point in history, sir. SARA EISEN: I know, I know. I was like hanging on everywhere,"
Republicans suffered decisive losses in recent elections, including the New York mayoral race and governor contests in Virginia and New Jersey. President Trump attributed the results to factors including affordability while asserting he had already solved price pressures and promised lower prices on day one of his presidency. Inflation has remained elevated and cumulative increases in everyday items like beef and coffee continue to strain household budgets. CNBC anchor Sara Eisen pressed White House NEC Director Kevin Hassett to reconcile the election message with those promises. Hassett argued that real incomes fell under Biden by about $3,400 and have risen since Trump took office. A live broadcast freeze interrupted Hassett’s elaboration.
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