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White House: Jared Bernstein is hopeful despite ‘unacceptably high levels of inflation’

White House Economic Adviser Jared Bernstein joined Yahoo Finance Live on May 10 to speak on inflation and what the Federal Reserve is doing to fight it.

Video Transcript

[MUSIC PLAYING]

JARED BERNSTEIN: I've never been part of a White House that is doing more than this White House to try to ease inflationary pressures. Now, the president has been consistently clear about two things. One, this is a real burden on household budgets, and two, the Federal Reserve is, first and foremost, our national inflation fighter. And there's five buckets where we've been dispatched to do everything we can to help ease these pressures and better align supply and demand. That includes reducing energy costs, reducing transportation logistics costs, reducing kitchen table costs, taking down the deficit, and increasing labor supply. And in every one of those buckets, we have plans that are not just underway, but have been so for a while, including releasing oil from the reserves, including our work reports, and with the trucks, they are having an impact, but we're still of course facing unacceptably high levels of inflation.