Statement by CEA Chair Jared Bernstein

Upon hearing President Biden's announcement today that he would not seek reelection, and reading his moving letter to the nation, this seemed like a good moment to reflect on my work with him over our many years together. From our first meeting in December of 2008 when he was the Vice-President elect, to our most recent discussion of the latest strong job and easing inflation reports, his commitment to working families, to those left behind, to those with insufficient bargaining clout to claim a fair slice of the pie they're helping to bake, to those facing any degree of economic unfairness, has been absolutely unwavering.

Every economic meeting and discussion we've had, and there have been hundreds over the years, no matter how detailed or weedy the subject matter, was always informed by the fundamental principles of economic fairness and dignity. Whether the topic was affordable housing, child or elder care, cutting health care and prescription drug costs, or blocking unfair trade, those simple principles were always in the room, always part of the conversation. How will this policy reach working people who need the help? How will it boost their incomes, or ease their family budgets? How will the news in this data report be received by working families? What will its impact be on their living standards? And how can we best communicate what we're doing to help folks get and stay ahead?

These are the questions that have always characterized our policy and data conversations, and they will continue to do so. Our work isn't done, and at President Biden's direction, CEA will continue to execute on the Biden-Harris Administration's agenda. That was our work today, and it will be our work tomorrow. And we couldn't be prouder to continue working together to get the job done.

Jared Bernstein

Chair, Council of Economic Advisers