White House on Inflation Outpacing Wages over 3.5 Years: 'It Is Difficult' for Consumers, Real Wages up from Pre-COVID

On Tuesday's broadcast of CNBC's "Squawk Box," White House National Economic Council Director Lael Brainard responded to a question on real wages declining over the last three-and-a-half years by stating that "it is difficult for American consumers," but "people actually have more purchasing power, even with those price increases, than they did pre-pandemic."