Kevin Hassett: ‘The Inflation Number Today Was Pretty Much Right on Expectation’

EXCERPT:

VARNEY: “White House Economic Council Director Kevin Hassett joins me now. I characterize the numbers today as follows: The economy is strong, but there’s been an uptick in inflation, which is worrying. What say you?”
HASSETT: “Yeah, I think that the economy’s strong part, I 100 percent agree. The inflation number that we got today was pretty much right on expectation. What keeps happening is that the real output numbers have been outperforming analyst forecast by a lot. And this is another example of that, that we’ve got, you know, really huge 3 percent growth that’s headed towards 4 percent growth. The reason why it was like dragged down below even 5 was there were these massive imports of capital goods, which are going to produce future GDP.”