TREE NEWS update: White House National Economic Council Director Kevin Hassett said the US economy is still absorbing the impact of pandemic-era stimulus spending from the early Biden administration, calling it one of the country’s current problems. In a Tuesday interview, Hassett said pandemic stimulus during Trump’s first term was appropriately sized to fill an economic gap, while the Biden administration expanded spending into other areas. He said inflation was about 1.5% at the end of Trump’s last term before rising notably.
Hassett Blames Biden-Era Stimulus for Ongoing US Economic Drag
AI take
This is a political framing of macro conditions rather than a new data point, and its relevance to crypto and RWA markets runs through the rate path: how officials characterize the inflation impulse shapes the case for staying restrictive. The split Hassett draws between pandemic relief under Trump and later Biden-era spending is a preview of how fiscal blame will be contested into the next election cycle. Whether that framing gains traction with markets — or with the Fed — is the open question.
Generated by AI for reference only.
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