ICYMI: Jared Bernstein, Expert Panel Weigh in on Inflation Debate

Ahead of the CPI data release, the Groundwork Collaborative and the Roosevelt Institute co-hosted a virtual event to break down the myths, misconceptions, and missing narratives in the current inflation debate.

In case you missed it, here’s what Keynote Jared Bernstein and a panel of experts had to say:

• Jared Bernstein, Member of the White House Council of Economic Advisers: “The idea that we can, on the one hand, have lower poverty, lower racial wealth gaps, and high-quality job opportunities, or we can have low and stable inflation, but we cannot have both, is analytically and empirically wrong.”
• Lindsay Owens, Executive Director, Groundwork: “We can create resilient supply chains, target full employment for those who have always been left out of recoveries, and finally take on the monopolies and powerful corporations rigging the rules against the rest of us.”
• Lauren Melodia, Deputy Director of Macroeconomic Analysis, Roosevelt Institute: “If we really want to focus on making sure that vulnerable communities aren’t hit hard by inflation, we need to think about what’s really driving price increases for a large portion of household budgets – like housing, energy, and food – be proactive and address those supply constraints, and recognize that the necessary investments take time.”
• Josh Bivens, Director of Research, Economic Policy Institute: “Get jobs back, get wage growth up, control the pandemic, and people will not be looking for excuses for why they feel bad because they won’t be feeling bad. Unexpected spikes in commodities hurt people’s pocketbooks, but the real danger is overreacting and not seeing the benefit of continuing to feed the economy the demand it needs.”
• Indivar Dutta-Gupta, Co-Executive Director, Georgetown Center on Poverty and Inequality: “Problem after problem exposed during the pandemic reveals the longstanding challenges we’ve neglected. We’re starting from a tough place where we built a supply-chain, and quite frankly an economy, on low-paid and precarious work.
• Mike Mitchell, Director of Research and Policy, Groundwork: “We must push back against calls for reigning in public spending, stymying worker power, and prematurely raising interest rates as a response to inflation. Smart, large-scale investments are what we need.”
• Rakeen Mabud, Chief Economist, Groundwork: “Getting this right is not an academic debate. It’s about real people’s lives.”

Email press@groundworkcollaborative.org to speak to one of the experts about inflation in the context of today’s CPI release. And read a new brief published by the Roosevelt Institute, “No Room for Rent: Addressing Rising Rent Prices through Public Investment and Public Power.” 

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Groundwork Collaborative: The Groundwork Collaborative’s mission is to advance an economic vision for strong, broadly shared prosperity and true opportunity for all. Visit our website and follow us on Twitter @Groundwork.