White House NEC Director Hassett: Inflation Appears Back, Work Needed

The significance here is the framing: a sitting NEC director conceding inflation is back shifts the policy conversation from whether price pressure exists to what the administration does about it, which matters for rate expectations and, by extension, risk assets including crypto and tokenized RWAs. The travel and airfare commentary cuts the other way, casting consumer demand as a cushion. Whether that demand signal outweighs the inflation admission in shaping policy is the open question worth watching.