National Economic Council Director Kevin Hassett delivered an optimistic assessment of the American economy, citing rising real wages and slowing price increases. Hassett said the average real wage for Americans has reached $88,000—a gain of roughly $2,000 since President Trump took office, after adjusting for inflation.
Speaking about the economic outlook, Hassett highlighted the dual trend of decelerating prices and accelerating wages. "The price increases are decelerating and the wage increases are accelerating because of all the capital spending," Hassett said.
Real wage growth driven by capital spending
Hassett pointed to capital spending as a key driver of the wage gains. He referenced data from Steve Moore's group, which analyzes month-to-month census data to project annual real wage growth. The most recent projection puts real wages growing at an annual rate of about $2,000 above the level when President Trump took office.
"Right now they've got real wages growing and about a manual clip of $2,000 with the average real wage for Americans that $88,000. $2,000 up from when President Trump took office and that's after adjusting for inflation," Hassett said.
Bullish outlook for the economy
The NEC Director expressed strong confidence in the nation's economic trajectory. "The economy is increasing wages, it's increasing prices too," Hassett noted. "And so I think we're very bullish still on the outlook for the economy."
Hassett's comments come as the administration continues to emphasize the benefits of capital investment for American workers, with real wage gains outpacing inflation under President Trump's policies.
