White House: Things Are More Expensive, But Saying That's Why People Feel Bad About the Economy Is 'Stale'

On Monday's broadcast of CNBC's "Squawk Box," White House Council of Economic Advisers Chair Jared Bernstein acknowledged that it's "fair" to point out that prices are still elevated and things are still expensive even though the rate of inflation is going down, but said that questions about inflation hurting President Joe Biden's job approval numbers are "stale" because "the approval rating...invokes a level of political tribalism that has a lot to do with things other than how the economy is doing." And "the fact that inflation went from 9 to about 3%, is registering with folks, and especially when it starts generating real wage gains."