Hassett: Americans ready to return to pre-pandemic spending

White House senior adviser Kevin Hassett speaks as President Donald Trump and others listen during a news conference in the Rose Garden of the White House, Friday, June 5, 2020, in Washington. (AP Photo/Evan Vucci)

OAN Newsroom
UPDATED 6:15 PM PT — Wednesday, June 17, 2020

According to the president’s senior economic adviser Kevin Hassett, consumer spending is ready to bounce back in the United States. On Wednesday, Hassett announced spending trends are quickly returning to where they were before the pandemic.

He noted the economy is showing signs of slow recovery, even though the stock market fell sharply last week.

The adviser claimed Americans are eager to spend again, as shutdowns have allowed them to save money.

“The spending is getting back to where it was fairly quickly,” said Hassett. “I would expect by the time we see the June numbers, we’ll have basically a return to the spending that we had at least a year ago.”

He went on to say the president supports another round of stimulus checks and a payroll tax reduction to help boost the economy.

MORE NEWS: Fla. Continues Reopening Despite Spike In New COVID-19 Cases

Source link

Shanon Peckham
Author: Shanon Peckham

Be the first to comment

Leave a Reply

Your email address will not be published.