Jared Bernstein, a member of the White House Council of Economic Advisers, has admitted that inflation might not have hit its highest level yet.
In an interview with Saleha Mohsin, senior Washington correspondent for Bloomberg News, Bernstein was asked about the inflation situation. “I’ve seen folks say that the peak is behind us. I’m just going to be a lot more cautious than that,” Bernstein replied, according to a tweet by Mohsin on Aug. 30. “I certainly understand the rationale of where they’re coming from … There are still uncertainties.”
In an interview with CNN a few weeks back, Bernstein said that American families expressing concerns about recession and high prices “often have pretty decent balance sheets” and are “out there spending at a decent clip.” He also insisted that many Americans are confusing high inflation with the economy being in a recession….