NEC Dir. Kevin Hassett: ‘The Price Increases Are Decelerating’

EXCERPT:

HASSETT: “The future is very bright, especially if you consider that we're not only talking about prices but talking about wages. And if you look at Steve Moore's group, it takes the month-to-month census data and then gives us an estimate of what the annual real wage gain is going to be when we get the census report about, I don't know, five months from now. And the last one was great, and right now they've got real wages growing at about a annual clip of $2,000, with the average real wage for Americans at $88,000, $2,000 up from when President Trump took office, and that's after adjusting for inflation. And so the economy is increasing wages, it's increasing prices, too. The price increases are decelerating, and the wage increases are accelerating because of all the capital spending.”