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"The bottom line is inflation is going down at the microeconomic level because of a million things that we've done," says NEC Director Kevin Hassett. "But at the macroeconomic level, the driving force right now is temporary increase in the price of gas."

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Hassett: "The bottom line is inflation is going down at the microeconomic level by a million things we've done, like fix the avian flu so egg prices are down, change beef imports so that beef prices go down, make drug prices more affordable with TrumpRX. But at the macroeconomic level the driving force right now is the temporary increase in the price of gas."

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