The chairman of the Council of Economic Advisers accused former Vice President Mike Pence of peddling outdated economic talking points.
Economist Jared Bernstein, who was appointed to his position by President Joe Biden, appeared on Fox News Sunday minutes after Pence’s appearance, where the Republican presidential candidate echoed what he has said on the campaign trail, that inflation is at a 40-year high. The former vice president even gave a nod to Bernstein’s upcoming appearance, anticipating that Bernstein was “trying to make a case that Bidenomics is working.”
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Bernstein was quick to dismiss Pence’s claims.
“By the way, we got to tell Mike Pence that June 2022 wants its talking point back. That is, he talked about inflation at a 40-year high. That was true over a year ago. It is down two-thirds since then. 9.1%, that’s what he was referring to,” Bernstein said. “Again, that is a stale, over-a-year-old talking point, and it’s down about 3%.”
“But it’s still well ahead of when you guys took over,” host Shannon Bream interjected.
“And it’s certainly not ahead of wages, and that is the key point,” Bernstein responded.
Pence would go on to share his segment on X, formerly known as Twitter, notably leaving out his “40-year high inflation” comment from his caption of the clip.
Nobody is buying Bidenomics. Mortgage rates are at a 22 year high and 2 out of 3 Americans are living paycheck to paycheck. The time has come for us to offer a vision for renewing this economy! pic.twitter.com/LMmGRIHSbd
— Mike Pence (@Mike_Pence) September 3, 2023
“Nobody is buying Bidenomics. Mortgage rates are at a 22 year high and 2 out of 3 Americans are living paycheck to paycheck,” the caption reads. “The time has come for us to offer a vision for renewing this economy!”
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Pence has promised to “appoint someone like Judy Shelton to the Federal Reserve to replace Jerome Powell” should he be elected president.
Bernstein previously served as the chief economic adviser to then-Vice President Joe Biden from 2009 to 2011. He was appointed by Biden to the Council of Economic Advisers in June.
