During an interview on CNBC’s Squawk Box, White House National Economic Council Director Lael Brainard made the claim that leaders from around the world would love to have President Biden’s economic record and people are down on Joe because of wars and COVID.
The economy is “performing exceptionally well” but people have been through “a very challenging few years” Brainard says.
Co-host Andrew Ross Sorkin said, “Speak to this, though, because I think there [are] a lot of folks who have been waking up to headlines of poll results over the weekend, as it relates to Bidenomics versus, frankly, Trumponomics and where he stands — the president that is — compared to where…the former president stands in terms of how people are thinking about the economy and how, frankly, unhappy they remain about the economy.”
Brainard responded, “Look, if I look around the world, I don’t think there’s a leader out there who wouldn’t rather have the economic record that President Biden has today. We have been growing, 3% over the past year. We’ve had unemployment down below 4% for 21 months in a row. Real incomes are growing. Wealth — this is remarkable — wealth is up 37% for the median household since before the pandemic. And we’re growing faster and have lower inflation than any other advanced economy in the world. So, the statistics, I think, are very strong. Now, people have been through a very challenging few years between the pandemic, and then the oil price spikes associated with Russia’s war. It’s going to take a while for them to feel really confident, but if you look at surveys, 70% of Americans feel like their personal finances are better now than they were before. We’ve still got to work on kitchen table economics, there are still a lot of Americans sitting around their kitchen tables with costs of medicine, pharmaceuticals that are still too high, and we’re working on that.”
Watch the clip below:
Top Biden economic advisor Lael Brainard: "I don't think there's a leader out there who wouldn't rather have the economic record that President Biden has today"
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— Washington Examiner (@dcexaminer) November 6, 2023
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