On Friday's broadcast of CNN's "Situation Room," White House Council of Economic Advisers member Jared Bernstein said it "makes perfect sense" that 64% of Americans think we're in a recession because "most people are thinking about inflation. They're thinking about the pressures on their family budgets. And it's completely understandable that they would be." Bernstein also said that while inflation is too high, "we've tried to point out that those families often have pretty decent balance sheets."