National Economic Council Director Kevin Hassett raved about the holiday sales already underway as he told Fox News host Rachel Campos-Duffy that Americans had just delivered “the best Black Friday tha we’ve ever seen.”
Hassett explained on “Fox & Friends: Weekend” that the end of the government shutdown had likely inspired a boost in consumer confidence as the holidays approached — and argued that wage growth under President Donald Trump compared to during former President Joe Biden’s administration was also likely playing a role in getting consumers through the doors.
WATCH:
National Economic Council Director Kevin Hassett: “We just had the best Black Friday that we’ve ever seen… Retailers expect that both online and in-store sales are going to be the highest we’ve ever seen.” pic.twitter.com/zKhSJNXThI
— Rapid Response 47 (@RapidResponse47) November 30, 2025
“The fact is that we just had the best Black Friday that we’ve ever seen,” Hassett began. “And it’s not just because people are out there, you know, taking debt on their credit cards. It’s because incomes are way up under President Trump. They dropped about $3000 a person, $6000 a family, under Joe Biden and it’s up $1500 a person so far this year.”
“And with all that extra money, and with the government shutdown over so that people feel comfortable going back to stores, we’re seeing a really blow-out Thanksgiving and Christmas coming our way,” he continued. “I think all the retailers expect that both online and in-store sales are going to be the highest we’ve ever seen — and the point is that’s happening even though inflation is way, way down under President Trump, you know it was 5-10% under Biden and right now it’s running at about 2.5%, and it’s not — it’s way lower than wage growth, so people’s incomes are going up by way more than inflation and that’s why we’re seeing these blowout sales.”
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Hassett delivered the same message on CBS News, pushing back on the narrative that Americans would only be spending more this Christmas because things had gotten more expensive.
“I think the folks who were saying, ‘Well, maybe people are going to be anxious about going back and getting presents for the kids and so on,’ they have been disproven this weekend,” he said
Top White House economic adviser Kevin Hassett says Black Friday spending increased this year, although early forecasts indicated that if spending was higher, it would likely be due to higher prices.
“I think the folks who were saying, ‘Well, maybe people are going to be anxious… pic.twitter.com/UQev2irJkl
— Face The Nation (@FaceTheNation) November 30, 2025
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