'PRODUCTIVITY BOOM': Economic council says MAJOR shift could be taking shape

• The September jobs report (29k added) is viewed positively, indicating a 'supply-side' realignment of the American economy with increased factory and construction jobs.
• Current economic policies are achieving low inflation (core PCE 2% annual rate, 1% including food/energy) and high GDP growth (around 4%), driven by capital spending and productivity gains.
• A Council of Economic Advisers (CEA) report details the 'real cost of socialism' as a $49 trillion federal deficit or $355,000 per household over ten years, warning of economic decline if such policies are implemented.
• The U.S. is pressuring European allies to release diesel reserves from their stockpiles, which could lead to a 'massive positive effect' or reduction in diesel prices.

Kevin Hassett, White House National Economic Council director, discusses the September jobs report, emphasizing that President Trump's supply-side policies are fostering low inflation, high GDP growth (around 4%), and a 'productivity boom' driven by capital spending. He also highlights the significant cost of socialist policies and the potential for Europe to release diesel reserves to impact prices.