National Economic Council Director Kevin Hassett said Thursday that inflation has dropped sharply while economic growth remains high.
Hassett addressed concerns about tariffs, stating they only cause a “one‑off price adjustment” and advised against worrying about tariff pass‑through to prices. He suggested that a “supply‑side boom can lead to growth without inflation.”
On international matters, Hassett expressed confidence that Argentine President Javier Milei is on the right track and pledged that the United States will be a firm backstop for Argentina, promising 100% support for the South American nation.
Regarding China relations, Hassett noted that Treasury Secretary Scott Bessent is practically talking to China every day. He added that China would lose the AI battle if blocked from Nvidia chips.
Hassett also commented on domestic economic policy, explaining that U.S. stakes in companies are related to national security concerns. He highlighted that investments in artificial intelligence technology are creating real income.
