White House National Economic Council Director Kevin Hassett said Sunday that retailers enjoyed a “blockbuster” sales weekend after Thanksgiving despite narratives about economic pessimism under President Trump.
Mr. Hassett, speaking on CBS’ “Face the Nation,” said online sales were up 10% year-over-year, while store sales increased 4%.
“It was really a blockbuster weekend after Thanksgiving,” Mr. Hassett said.
He said the robust sales belied polling and media narratives that suggest Americans are holding back or worried about rising prices because of Mr. Trump’s tariffs or stubborn inflation.
Democrats in early November swept major elections that focused on concerns about affordability, heaping pressure on Mr. Trump to ease off tariffs on groceries and consider other ways to cut prices.
The administration says inflation has cooled since the Biden years. It expects the economy to improve heading into 2026 as Mr. Trump’s tax and deregulation policies take hold.
“Wages have been growing faster than prices,” Mr. Hassett said Sunday. “That’s why we could have a great Black Friday and great Thanksgiving sales weekend because people feel like they have more money in their pockets.”
Mr. Trump says massive foreign investment in U.S. factories will create jobs, and the Internal Revenue Service said it expects to return a lot of money to filers next year due to deductions written into the GOP’s “One Big Beautiful Bill.”
“People are going to get really, really big refunds,” Mr. Hassett said.
