White House: Spending Growing Faster Than Income Due to Falling Inflation with Strong Labor Market, Not Inflation

On Thursday's broadcast of "CNN News Central," White House Council of Economic Advisers Chair Jared Bernstein stated that personal spending growing higher than personal income isn't due to inflation, it's due to the "strong labor market." And that real wage growth is due to the labor market combined "with consistently easing inflation." And "As real wages grow, consumers are able to go out there into the market and get what they want and what they need."