He says he expects growth, barring “policy mistake” or “exogenous shock.”
White House Council of Economic Advisors Chair Jared Bernstein recently expressed optimism about the U.S. economy, saying it will keep going in a “pretty good way” as long as there is not another major disruption.
“We have wages now beating prices, nominal wages growing faster than prices, and that dynamic in our economy creates a pretty persistent flywheel,” he said. “In the absence of a policy mistake or an exogenous shock, we think that sort of keeps things going in a pretty good way.”
Though there are large economic situations currently in development, like the ongoing Congressional budget debate, auto workers’ strikes, and the return of student debt payments, Chairman Bernstein believes that the economy is still slowly headed toward a trajectory of growth.
As the Lord Leads, Pray with Us…
- For discernment for Chairman Bernstein as he oversees the White House Council of Economic Advisors.
- For the president and members of his administration as they make decisions that impact the nation’s economy.
- For God’s purposes to be accomplished in the United States.
Sources: Reuters, NPR
