Back to today’s briefing

Story perspectives

Hassett: Factory surge slashes GDP to 1.5%, growth 3.9%

7/31/2026

47 11 Full Breakdown

Summary

Story summary

Kevin Hassett told Maria Bartiromo that rapid factory building and capital-goods imports cut GDP growth to 1.5%.
He said domestic demand kept sales near the 4% target, leading him to estimate growth at 3.9%.
Hassett argued the capital-spending surge eases inflation pressure and that CPI and PCE reports are as good as policymakers could hope.
He noted unemployment-insurance claims are the lowest since the 1960s despite a larger labor force.

1 of 1

Story summary

Kevin Hassett told Maria Bartiromo that rapid factory building and capital-goods imports cut GDP growth to 1.5%.
He said domestic demand kept sales near the 4% target, leading him to estimate growth at 3.9%.
Hassett argued the capital-spending surge eases inflation pressure and that CPI and PCE reports are as good as policymakers could hope.
He noted unemployment-insurance claims are the lowest since the 1960s despite a larger labor force.