White House Adviser Calls Affordability Crisis a 'Myth' Before Midterms

Overview

• Kevin Hassett told Larry Kudlow on Fox Business on Monday that the affordability crisis is a "myth," saying real consumption is about $1 trillion higher and roughly $5,000 higher per household since President Trump took office.
• Hassett also downplayed current gasoline pain, echoing the president's prediction that pump prices will "drop like a rock soon," a claim that critics say overlooks recent price spikes.
• The remarks drew swift public ridicule and criticism on social media from commentators reported by multiple outlets, who said the timing and tone risk poor messaging days before the midterm elections.
• Critics pointed to the Labor Department's September inflation report showing 3.7% year‑over‑year inflation as evidence that many voters still face real cost pressures despite the administration's aggregate figures.
• Analysts note the episode highlights a broader divide between macroeconomic measures and everyday experience—research cited by one outlet shows recent spending gains have been concentrated among higher‑income households, which may shape voter perceptions.