White House: 'We Don't Want to See a Broad Deflation'

On Tuesday's broadcast of CNBC's "Squawk on the Street," White House Council of Economic Advisers Chair Jared Bernstein stated that the White House doesn't want to see "a broad deflation," but "in areas where prices went up really a great deal and were highly elevated, there, you want to see prices come down, not just disinflation but deflation."