Director of the National Economic Council Kevin Hassett (right) appears on Fox Business, Tuesday, Nov. 10, 2026. (Screengrab / Fox Business)
An apparent technical glitch interrupted White House National Economic Council Director Kevin Hassett on Tuesday as he lamented inflation figures that came in hotter than expected during a Fox Business appearance.
The Consumer Price Index rose 0.4% in October, according to the Labor Department, above the 0.3% economists expected, ABC News reported. The figures have led a top Federal Reserve official to consider the “largest rate rise since 2022,” according to the Financial Times.
“Slightly hotter inflation and a virtual certainty, from the market at least, that the Fed raises rates in December,” said Fox Business’ Stuart Varney, speaking with Hassett. “What say you on that?”
Hassett called the latest figures “disappointing” and blamed energy prices, which he said have surged. The increase comes amid President Donald Trump’s war against Iran, a conflict an Ipsos poll found is unpopular.
Hassett said core inflation had slowed to about a 1.5% annual rate over a three-month stretch in the summer before inflation accelerated over the past three months.
“Energy prices in the CPI are up 20% year over year and gasoline prices are up 37% year over year,” Hassett said. “We had so much good news throughout the year like lower drug prices and everything that it kept things from heading in the wrong direction or on the wrong trajectory. But right now, the trickle down from the higher energy prices is very palpable in the data.”
Varney then tried to move to another topic before Hassett said, “Um… I think we just switched.”
“I’m sorry?” a muddled-looking Varney said.
A voice could then be heard in the background before it was abruptly cut off, and both men fell silent.
“There may be a problem there… with the audio,” Varney said before moving on.
Report typos and corrections to corrections@rawstory.com.
For customer support contact support@rawstory.com.
