economy
Kevin Hassett on "Face the Nation with Margaret Brennan," May 3, 2026
Updated on: May 3, 2026 / 12:15 PM EDT / CBS News
TL;DR
- Director Kevin Hassett claims economic pressure on Iran is effective, causing hyperinflation and hunger.
- Hassett asserts the U.S. is not at war with Iran, attributing Strait of Hormuz issues to Iran's actions.
- He refutes claims that rising gas prices negate tax refund benefits, citing real income growth.
- Hassett explains Spirit Airlines' collapse was due to an unwisely canceled merger and business model issues, not solely fuel prices.
- Other airlines are reportedly hedging against fuel price shocks, remaining healthy.
- The White House attempted an 11th-hour rescue plan for Spirit Airlines but found no applicable authorities.
- American, United, and Southwest airlines offered to help stranded Spirit passengers.