Alright, let's get one thing straight right off the bat: this whole "CNBC grills White House advisor" thing? It's basically pro wrestling for people who wear ties. Joe Kernen trying to corner Kevin Hassett over inflation? Please. Give me a break. It's all performative outrage.
The Kabuki Dance of Inflation
Kernen's whole schtick is to act like he's the only guy in America who actually feels the pain of inflation. "Prices are falling?" he challenged Hassett. "That's not true!" Oh, really Joe? You just now figured this out? The rest of us have been living it for, what, three years now?
And Hassett, bless his heart, played along. "Purchasing power has gone up… by about $1,200 this year," he said. Right. Because $1,200 is going to make up for the $5,000 Kernen himself admitted was lost due to inflation. It's like trying to bail out the Titanic with a teacup.
Let's be real, this wasn't about getting to the truth. It was about creating a soundbite. A clip that can be replayed on Fox News (or CNBC, offcourse), stoking the flames of economic anxiety.
I mean, who are we kidding? Kernen even dragged in the whole "Trump's ballroom" thing, trying to make it seem like the White House is living high on the hog while the rest of us are eating ramen. As if a ballroom project—privately funded, no less—is the reason gas costs more.
The Tariffs Tango
And then there's the whole tariffs debate. Kernen tries to paint Hassett into a corner, suggesting that reversing tariffs is an admission that they caused higher prices in the first place. Hassett, of course, dodges the question like a seasoned politician.
But here's the thing: tariffs do impact prices. It's Econ 101. But admitting that would mean admitting that the previous administration's trade war was a colossal screw-up. And ain't nobody in the GOP gonna touch that with a ten-foot pole.
So, what do we get? A bunch of deflection, half-truths, and carefully worded statements designed to avoid any real accountability.
It's a dance, people. A carefully choreographed routine where everyone knows their steps and nobody says anything that might actually upset the apple cart. Is it any wonder people are tuning out the cnbc news and turning to, I don't know, cat videos?
The Fed's Folly
The conversation then pivots to the Federal Reserve, with Kernen referencing an article by former Fed board member Kevin Warsh. Hassett defends the need for an "independent, data-driven" central bank, while also implying that the current Fed leadership has made "policy errors."
"I guess that when people think of who would be the least independent to the Trump administration, people think it would be you, Kevin, but you’re talking about independence," Kernen jibed. Ouch.
But is he wrong? I mean, how independent can the Fed really be when political pressure is constantly bearing down on them? They're damned if they do, damned if they don't. Raise rates, and you're accused of crushing the economy. Lower rates, and you're accused of fueling inflation.
Maybe the real problem isn't the Fed's independence, but the fact that we expect them to solve problems that are fundamentally political in nature.
Is This All Just Noise?
Honestly, this whole exchange feels like a waste of time. Does anyone watching this actually learn anything? Does it change anyone's mind? Or is it just another example of cable news serving up outrage for clicks and ratings?
Then again, maybe I'm just being cynical. Maybe there are people out there who genuinely believe that Joe Kernen is fighting the good fight against inflation. Maybe there are people who think that Kevin Hassett is giving them the straight scoop.
But I doubt it.
The Media's to Blame, Too
Oh, and while we're at it, let's not forget the media's role in all this. Yahoo using AI to generate takeaways from the article? That's just lazy. Slapping together a summary without actually digging into the details? It's part of the problem. It's why people don't trust the media anymore. The exchange between Kernen and Hassett was covered by several outlets, including CNBC’s Joe Kernen Presses Kevin Hassett to ‘Admit’ Claim of ‘Falling’ Prices Is ‘Not True’.