【White House Economic Director Urges the Public to View Economic Data Fluctuations Rationally】

White House National Economic Council Director Hassett said Sunday that the way the media reports on economic news often causes people to overemphasize the most severe problems that exist at a particular moment. Hassett said on ABC’s *This Week* program, “One thing I’ve noticed at the White House is that as long as some consumer price data looks a bit disappointing, we only talk about that one.” He made the above remarks about gas prices and their impact on inflation. Hassett said everyone should look at the bigger picture rather than focusing only on energy prices or an area of the economy that is temporarily facing difficulties on its own. “What you should do is to take these ups and downs in stride and focus on how real wages are changing,” he said. “If you look closely, you’ll find that due to increased employment, rising stock markets, and robust corporate profits, this is translating into higher wage levels.”