Biden economic adviser points to inflation, jobs trends as good signs, despite voters' dissatisfaction
Council of Economic Advisers Chair Jared Bernstein tells ‘FOX News Sunday’ that ‘real wages’ are rising and the job market is ‘as tight as it’s ever been.’
President Biden’s economic adviser on Sunday said inflation and employment trends are moving in the right direction despite many Americans voicing disapproval of Biden’s handling of the economy.
Jared Bernstein, chair of the Council of Economic Advisers, said during an appearance on «Fox News Sunday» that he wanted to add nuance to the chorus of American voters who say they’re continuing to struggle with high prices.
«The question needs to be, in regards to all these polls you just cited, are we moving in a direction that will reach the American people, give them more buying power, continues to see actual declines in gas prices,» Berstein told host Shannon Bream.
In the latest Fox News poll asking Americans about the state of the economy, just 29% of respondents said the economy has started to turn around while 67% say the worst is yet to come.
US CONSUMER SENTIMENT DROPS AGAIN ON INFLATION FEARS
Chair of the Council of Economic Advisers Jared Bernstein says the economy is on the right track, though there is still more work to be done. (Celal Gunes/Anadolu Agency via / Getty Images)
Bernstein said while consumers «are the best arbiters of their economic conditions,» a more «realistic picture» has to consider consumers’ actions.
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Bernstein stated that consumer spending has been «driving the economy forward» with growth rates of over 5%, noting that Black Friday set online shopping records of between $10
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