Core Insights - The last time the Consumer Price Index rose by less than 1% over 12 months without a pandemic was in July 2016 [1] - Kevin Hassett predicts a potential return to low inflation and strong economic growth similar to the late 2010s, with a target inflation rate of 1% and economic growth of 3% [2][3] - Achieving a 1% inflation rate would significantly benefit consumers, extending the time for prices to double from 24 years to approximately 72 years [2] Economic Outlook - A combination of 1% inflation and 3% economic growth is seen as possible but unlikely in the near term, as inflation has not been below the Federal Reserve's target of 2% since 2021 [3] - Most forecasters do not expect inflation to drop below 2% for several years, indicating a challenging economic environment ahead [5] Policy Implications - Hassett believes that the economic policies from the Trump administration could eventually lead to lower inflation rates [4] - Although Hassett is not the leading candidate to succeed Jerome Powell as Federal Reserve Chair, he remains favored in prediction markets [4]

Joining us this morning with some reaction. First from the White House is the National Economic Council Director Kevin Asset. Kevin, good morning.Good to have you. >> Great to be here. >> Uh, lot of information uh that the streets trying to absorb.How do you characterize both October and November. >> Yeah, I think it's best to sort of combine the two. And if you do that, then you're looking at private sector gains of about 120,000, maybe 121.And then uh we dropped about 160,000 government workers, federal g ...