FILE – Jared Bernstein, during his confirmation hearing for the White House Council of Economic Advisers on Capitol Hill in Washington, 18 April 2023. The U.S. Senate narrowly confirmed Bernstein as the chairman of White House Council of Economic Advisers.
WASHINGTON, AP -- The U.S. Senate narrowly confirmed Jared Bernstein as the chairman of White House Council of Economic Advisers on Tuesday.
Bernstein, a longtime advisor to President Joe Biden who is also an economist with a focus on workers, was confirmed 50-49.
Republican lawmakers criticized his claim that high inflation resulting from the pandemic would be temporary. Biden has faced challenges from rising costs for businesses and families. However, the Labor Department reported Tuesday that consumer prices fell to the lowest level in over 12 years in May, a 4% rate.
Some economists and Republican politicians claim that the Biden administration's $1.9 trillion in pandemic relief provided by 2021 triggered inflation. Bernstein, who was then a Council of Economic Advisers member, defended President Obama for the jobs created by government spending, and claimed that the high prices were 'transitory. Bernstein, then a member of the Council of Economic Advisers, defended the president for the job gains that occurred because the government spending and said the high prices would be 'transitory.'
Bernstein succeeds Cecilia Rouse who, earlier this year, returned to Princeton University. Bernstein, who has been close to Biden for many years, served as his vice-presidential aide during Barack Obama's administration. Bernstein earned his doctorate in social welfare at Columbia University.
The Council of Economic Advisers was established in 1946 to provide advice to the President on economic trends and government policies.