Kevin Hassett, chair of the White House Council of Economic Advisers, said in an interview on July 14 that all 67 economists surveyed by Bloomberg got their forecasts for the June Consumer Price Index wrong. Hassett said June CPI fell 0.4% from the previous month, marking the largest monthly decline in six years. He attributed the drop to cost-cutting measures taken by U.S. President Donald Trump. The remarks focused on the gap between economists’ expectations and the reported inflation data, while framing the June reading as a result of the administration’s policy actions.
Kevin Hassett, chair of the White House Council of Economic Advisers, said in an interview on July 14 that all 67 economists surveyed by Bloomberg incorrectly forecast the June Consumer Price Index.
Hassett said June CPI fell 0.4% month over month, the largest monthly decline in six years. He said the drop came from measures taken by U.S. President Donald Trump to cut costs.
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