President Trump’s Director of the National Economic Council Kevin Hassett stood outside of the White House this morning and told Maria Bartiromo on Fox News that Americans are spending more money across the board. Hassett said he had the head of one of the big five banks in his office yesterday, going through credit card data.
Hassett quoted Treasury Secretary Scott Bessent, who said, “Credit card spending is through the roof,” and added, “They’re spending more on gasoline, but they’re spending more on everything else too.”
Katherine Clark (D-MA), Whip of the U.S. House of Representatives, responded to Hassett’s interview: “They’re openly bragging on national TV about raising your costs.”
They’re openly bragging on national TV about raising your costs. https://t.co/MZfw29A65j
— Katherine Clark (@TeamKClark) May 6, 2026
Other critics of the Trump administration replied with comments including: “It’s great for the banks, and that’s all Hassett cares about.”
Hassett also told Fox News: “In terms of the job picture for the rest of the year, it’s really hard to see, having the unemployment rate go up…it’s probably going to drop a little bit, but it’s already very close to full employment.”
[NOTE: An unemployment rate of near 5% is often considered full employment. According to the Bureau of Labor Statistics, the U.S. unemployment rate in March 2026 was 4.3%.]