In an interview with CBS on Friday, White House Council of Economic Advisers Chairman Jared Bernstein answered a question about how long it would take for prices to fall if President Joe Biden is re-elected, saying that the job market He said that the wages are stable and the wages are stable. Inflation is outpacing and Biden has cut some costs.
host Elaine Quijano asked. “But Jared, from a timeline perspective, if people are looking ahead and trying to plan their future and budget for things like groceries and tangible household items, what, if anything, should they do? Should we be paying attention?’ If the president is re-elected, how long will it take for prices to fall?”
Mr. Bernstein replied: “Well, I’ll say it again, I think one of the things we can focus on is numbers like today’s employment statistics. One of the things I’ve seen in this job is[s] According to the report, the percentage of women in the labor force, or employment rate, is at an all-time high going back to 1948. [a] historical record. We talked about our record of low unemployment. I think it is also necessary to refer to the fact that wages have outpaced inflation and real wage growth for about 13 consecutive months on a year-on-year basis. Therefore, the salary will increase further. And I think getting to the heart of your question, I think we need to ask who is fighting for whom. This president has consistently fought to cut taxes for the middle class and ensure that the wealthy and corporations pay their fair share, aggressively collecting junk fees such as credit card fees, airfare, and entertainment. He has made real progress in reducing these junk fees and, of course, reducing the cost of prescription drugs, medical care, and insulin, and these are effective aggressive cost-cutting measures that the other side is I’m thinking of withdrawing. ”
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