The White House remains optimistic about the nation’s economic trajectory, brushing aside concerns that its stringent tariff measures might slow growth, despite mounting inflation, a softening labor market, and broader economic instability. Early indicators from Black Friday shopping activity suggest consumers are still spending robustly, even as polling data from POLITICO and Public First reveals that most Americans hold the Trump administration responsible for increasing grocery expenses.
Although the latest spending figures do not factor in year-over-year price increases during the Thanksgiving period, former Council of Economic Advisers Chair Kevin Hassett emphasized the positive implications of strong consumer outlays. He attributed the momentum to higher incomes fueled by a solid jobs report and the release of pent-up demand following the conclusion of a prolonged government shutdown that previously drained billions from economic output.
Hassett explained that the end of the shutdown, combined with improved earnings, has created favorable conditions for a rebound after a brief downturn. He described the current holiday spending as a promising signal of stronger economic performance ahead, reinforcing the resilience of the U.S. economy in the face of recent disruptions.
— news from Politico