White House economic adviser Jared Bernstein said recently that Americans who think the country has fallen into a recession are basically confused about the source of their economic pain, while doubling down on the Biden administration’s view that the U.S. economy isn’t, in fact, in a contraction, despite two back-to-back quarterly negative GDP prints.
Jared Bernstein, who’s a member of the White House Council of Economic Advisers, told CNN’s “Situation Room” program last week that while it’s understandable that most Americans think the country is in a recession, the reason they feel that way is because of high inflation rather than economic fundamentals or a shrinking economy.
