"KEVIN HASSETT: And the trajectory is really, really, really good if you look at it. And inflation is one of those things that has a lot of momentum, if you look at the charts, and the momentum right now is headed really towards the Fed's target. CARL QUINTANILLA: Even though so even though it's been increasing for five straight months as of September?"
"People were expecting it to accelerate and it didn't. And I think that that is because this growth that we're getting is not from like printing a massive amount of government debt and sending checks to people like Joe Biden did. I mean, think about it. If you look the macroeconomic picture, the way you get inflation down is you don't have the government spend like crazy."
Inflation increased for five consecutive months through September, with the September Consumer Price Index up 3% year-over-year and 0.3% month-over-month. A government shutdown prevented further BLS CPI releases after September. On CNBC, National Economic Council Director Kevin Hassett described the inflation trajectory as improving and moving toward the Federal Reserve's target, attributing moderation to reduced government spending and a projected $600 billion deficit reduction by December. He contrasted current growth with prior large government payments, arguing lower deficits remove macroeconomic pressure. Concerns over affordability featured in recent electoral losses, which were cited by President Trump.
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