Fox Business Host Presses White House Adviser Hassett Over 1.5% Second-Quarter GDP Growth
The Facts
- Fox Business host Maria Bartiromo pressed National Economic Council director Kevin Hassett on Friday over weaker-than-expected U.S. economic growth, telling him on "Mornings with Maria" that he had previously said he expected 4 percent growth in the second half of the year and that the new number was "way lower than people expected."
- Real gross domestic product rose at a 1.5 percent annualized rate in the second quarter, down from 2.1 percent in the first quarter, according to Bureau of Economic Analysis data cited in the interview.
- Hassett responded by arguing that the headline GDP figure understated the underlying picture of the economy.
- Cost-of-living pressure is a live issue for U.S. households: a CNN fact check of Consumer Price Index data covering 332 products and categories found overall consumer prices rose 4.3 percent between January 2025 and June 2026, with egg prices down 32.7 percent as an outlier Raw Story, while an International Council of Shopping Centers survey found back-to-school shoppers comparing prices and seeking promotions as affordability concerns shape the season WWD.
- U.S. equity markets finished Friday higher, with the Dow Jones Industrial Average up 276.97 points, or 0.53 percent, to 52,485.03, the S&P 500 up 0.70 percent to 7,489.72 and the Nasdaq Composite up 1.00 percent Star ; a separate report described the indexes swinging between gains and losses during Friday trading, with the S&P 500 up 0.4 percent after ranging between a 0.7 percent gain and a 0.5 percent decline in morning trading UrduPoint.
- The exchange comes as the president's standing is under strain, with President Trump's average net approval rating running almost 18 points worse than at the same point in his first term, according to an analysis published by The Hill.
- What remains unresolved from the available reporting is whether the administration is revising its growth forecast; the single account of the interview in this source pool does not report a new White House projection.
Context
What exactly did the GDP report show?
Real gross domestic product grew at a 1.5 percent annualized rate in the second quarter, compared with 2.1 percent in the first quarter, according to Bureau of Economic Analysis figures cited during the interview — a slowdown from the prior quarter and below the 4 percent second-half pace Bartiromo said Hassett had earlier forecast Newsweek.
How does this fit with other claims about the economy?
The administration's characterizations of prices have drawn scrutiny. CNN's Daniel Dale said Trump's claim that "everything else" is down is "absolutely, unequivocally false," noting CPI data showing overall consumer prices rose 4.3 percent between January 2025 and June 2026 even though egg prices fell 32.7 percent Raw Story. Retail research points the same direction on household sentiment: an ICSC survey found back-to-school shoppers focused on value and deals as affordability concerns persist WWD.
How well sourced is this story?
Thinly. Only one article in this pool — a Newsweek report — covers the Bartiromo–Hassett exchange and the GDP figures discussed in it, and that account cuts off before Hassett's full explanation Newsweek. Surrounding market and price data come from separate outlets Star ,UrduPoint,Raw Story, but no independent confirmation of the interview itself is available in the pool.
Where Left and Right agree, and where they split
- Where Left and Right agree
- Growth at 1.5 percent badly missed Hassett's own 4 percent forecast, and his reply that the headline understates the economy is treated by both reads as not answering the miss.
- Where Left and Right split
- Household receipts — prices up 4.3 percent, shoppers hunting promotions —, or a public forecast that was never publicly revised.
How left and right read it
Maria Bartiromo pressed Kevin Hassett Friday on growth that came in at a 1.5 percent annualized rate, down from 2.1 percent, against his own forecast of 4 percent; he answered that the headline figure understated the economy. Markets closed higher the same day. But prices are up 4.3 percent since January 2025, and back-to-school shoppers are hunting promotions — measure this economy by their receipts, not by reassurance.
Kevin Hassett forecast 4 percent growth for the second half; the Bureau of Economic Analysis put the second quarter at 1.5 percent, down from 2.1. Arguing that the headline understates the underlying economy is not the same as owning the miss. Credibility is a fiscal asset. A forecast issued in public is a promise that ought to be corrected in public, so where is the revised number?
The receipts — 102 sources
Wire services (5)
Independent coverage (97)
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