Markets 'Terribly Wrong' to Price in Rate Hike: Hassett

• The US economy added 172,000 jobs in May, nearly double estimates, with unemployment at 4.3% and average hourly earnings up 3.4% year-over-year.
• Hassett credits the job growth and increased equipment investment to the President's policies, including tax cuts and expensing factories, leading to a 'supply-side boom' and a 'golden age' for the economy.
• He argues that current inflation, particularly from oil price shocks, is temporary and will not lead to lasting inflation, advising the Fed to avoid rate hikes and 'watch the numbers'.

White House National Economic Council Director Kevin Hassett discusses the May jobs report, highlighting the addition of 172,000 jobs, which exceeded estimates. He attributes this growth to the President's supply-side policies and dismisses concerns about broadening inflation, stating that markets are 'terribly wrong' to price in a Federal Reserve rate hike.