White House Anticipates Cost Reductions If Biden Wins Re-Election

In an interview with CBS, White House Council of Economic Advisers Chair Jared Bernstein discussed the potential impact of President Joe Biden’s re-election on prices. He highlighted the strong job market, wage growth outpacing inflation, and cost-cutting measures implemented by Biden. When asked about a timeframe for prices to decrease, Bernstein pointed to positive indicators in the jobs report, such as record-high employment rates for women and consistent real wage gains. He emphasized Biden’s efforts to cut taxes for the middle class, ensure fair contributions from the wealthy and corporations, and reduce unnecessary fees in various sectors. These measures, including addressing healthcare costs, are actively lowering expenses for Americans.