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      US Jobs Report Indicates Strong Consumer Confidence, Says NEC Director

      Kevin Hassett, the Director of the White House National Economic Council, commented on the recent US jobs report during an interview on Bloomberg TV, stating that the report aligns with expectations and highlights a robust consumer sector. He expressed optimism for a strong holiday shopping season, suggesting that consumer spending will continue to thrive despite economic challenges.

      Hassett attributed the rise in bond yields to the overall strength of the economy, noting that while this reflects positive economic indicators, it also results in higher costs for government debt. He emphasized that the current interest payments on government debt are unacceptably high, and President Trump is committed to reducing the deficit without resorting to inflationary measures to diminish the real value of debt.

      The NEC Director acknowledged the independence of the Federal Reserve and described the dynamic between Fed Chair Kevin Warsh and Jerome Powell as unusual. As the administration navigates these economic conditions, the key concern remains whether consumer spending can sustain its momentum amid subdued job creation and rising yields.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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