WH's Bernstein on Spending Contributing to Inflation: It 'Absolutely' Boosted Demand, But It Helped Labor Market -- Supply Had Issues

On Friday's broadcast of MSNBC's "The Last Word," White House Council of Economic Advisers member Jared Bernstein responded to a question on whether spending by the Biden administration contributed to inflation by saying there were supply issues and that while Federal Reserve policy and government spending "Absolutely" created more demand, that demand helped created a strong labor market.