In a candid interview on Fox News Sunday with Shannon Bream, Bernstein defended President Joe Biden‘s economic agenda, colloquially known as “Bidenomics,” asserting that it has contributed to enhancing the financial well-being of families.
Jared Bernstein, the Chair of the Council of Economics Advisers, remains undeterred by the recent low polling rate on the economy, insisting that Americans’ sentiments will eventually align with the reality of economic progress
Despite the chair’s optimistic outlook, concerns lingered after a Monmouth University poll from May revealed that a low polling rate of 48% of registered voters believed Biden’s economic policies were negatively impacting their families. Brushing aside these apprehensions, Bernstein emphasized the various challenges faced by American households over the past few years, including the toll of the COVID-19 pandemic, the war in Ukraine, and global inflation.
Bernstein elaborated that low polling rate have undoubtedly affected consumer confidence and sentiment. However, he lauded President Biden for steadfastly guiding families and businesses through the crisis, enabling them to emerge on the other side with sound economic health. The chief economic adviser took pride in the positive outcomes arising from the Biden administration‘s policies, highlighting the low polling rate remaining below 4% and wages outpacing inflation, which he considered a “welcome change.”
Acknowledging that recent months have been marred by persistent high inflation, rising gas prices, and increased consumer product costs
Bernstein conceded that it might take time for the public’s perception of the economy to align with the prevailing trends. He reasoned that given the challenges Americans have faced, a delay in fully appreciating the improvements is understandable. Nevertheless, he expressed confidence that the positive economic trends would endure, pointing to the decline in gas, food, egg, beef, and chicken prices as evidence of progress.
Emphasizing that the nation is on the right track, Bernstein reiterated that the key lies in moving forward and building on the gains achieved so far. While the low polling rate remains a concern for the “Bidenomics” agenda, the chief economic adviser remains optimistic that with time, Americans will come to recognize the strides made and the positive impact on their lives.
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