December 7, 2022

The U.S. economy is showing "continued resilience" despite a predictable slowdown, a top White House economic advisor said Wednesday.

National Economic Council Director Brian Deese said low rates of credit card delinquency and mortgage concerns point to resiliency in household balance sheets, while the labor market and the savings rate also indicate steadier growth. What's more, he pointed to slowing inflation as a positive sign for healthier economic growth.

"We need to see a transition to a more stable growth trajectory, but I think if you look at the key elements that you need as part of that, some easing on the inflation side ... we're starting to see some evidence in that direction," Deese said Wednesday on CNBC's "Squawk Box."

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