JARED BERNSTEIN

Jared Bernstein said lobbyists on Capitol Hill protected the carried interest loophole from being included in Biden's tax hikes.

Labor Day 2021 represents a perilous crossroads for millions of Americans.

A new poll from The Associated Press-NORC Center for Public Affairs Research finds that 54% of Americans judge the economy to be in poor shape.

Biden may be the most overtly pro-union president since Harry Truman. But even with that support, many of labor’s top priorities face long odds.

The Biden administration is giving a bit of simple advice to businesses that are unable to find workers: Offer people more money.

President Joe Biden’s promised economic comeback hit a speed bump Friday with the April jobs report.

New numbers out Friday appear to signal a major boom in job growth across the country as more Americans receive the coronavirus vaccine and start returning to work. White House economic adviser Jared Bernstein joins CBSN to defend President Joe Biden's $2 trillion infrastructure and jobs plan and address concerns over raising taxes to fund it.

White House economic adviser Jared Bernstein on "The Takeout" — 2/19/2021 White House Council of Economic Advisers member Jared Bernstein joins Major to talk about the American Relief Plan, economic inequality caused by the pandemic, and the debate over a $15 national minimum wage on this week's episode of "The Takeout with Major Garrett."

As negotiations continue between the Biden administration and Congress on a COVID-19 relief package that could top $1.9 trillion, White House economist Jared Bernstein argues that President Biden's American Rescue Plan "is calibrated to be of a magnitude to finally deal this COVID-19 virus the blow that hasn't occurred yet." The White House is also focusing on economic inequalities that continue to be exacerbated by the pandemic, Bernstein said, explaining that America is experiencing a "K" shaped recovery that disproportionately affects Americans of color. And at the bottom leg of the K are people who continue to struggle with the economic impact of the pandemic," Bernstein said. "I don't believe it will lead to overheating," Bernstein said, addressing concerns of inflation if the relief package injects too much money at once into the economy. For more of Major's conversation with Bernstein, download "The Takeout" podcast on Art19, iTunes, GooglePlay, Spotify and Stitcher.

Jared Bernstein, a longtime economic advisor to President Joe Biden, on Wednesday defended the size of the administration's $1.9 trillion stimulus package amid disagreements with Republicans over state and local funding and other provisions. "Reconciliation doesn't mean no Republicans joined the plan," Bernstein said in an interview with Kayla Tausche at a CNBC Capital Exchange event. Bernstein, a labor-focused economist, served as Biden's chief economist when he was vice president under former President Barack Obama. The other option, favored by many progressive politicians including Sen. Bernie Sanders, I-Vt., involves forcing the original $1.9 trillion through Congress through a budget tool known as reconciliation. A new Quinnipiac poll, released Wednesday, shows that more than two-thirds of voters favor the $1.9 trillion plan.

In this Jan. 27, 2021, photo, President Joe Biden speaks in the State Dining Room of the White House in Washington. AdRepublicans are tapping into bipartisan urgency to improve the nation's vaccine distribution and vastly expand virus testing with $160 billion in aid. Psaki said earlier Monday there is “obviously a big gap” between the $1.9 trillion package Biden has proposed and the $618 billion counteroffer. It also includes $20 billion to reopen schools compared to $170 billion in Biden's plan. Biden himself has been on the phone to some of the Republicans, the official said.

WASHINGTON – President-elect Joe Biden is facing escalating pressure from competing factions within his own party as he finalizes his choice for secretary of defense. And facing massive governing challenges once he takes office on Jan. 20, Biden can perhaps least afford to lose the backing of the Democratic Party’s fiery progressive base. Nearly 100 House Democrats belong to the Progressive Caucus, which may wield significant influence over Biden's policy agenda as Democrats cling to their narrowest House majority in a century. Flournoy, meanwhile, had been seen as the leading candidate for defense secretary under a Democratic president since Hillary Clinton’s failed 2016 campaign. Biden has promised both to fight for big, bold policy changes and to compromise with Republicans.

WASHINGTON – President-elect Joe Biden is facing escalating pressure from competing factions within his own party as he finalizes his choice for secretary of defense. And facing massive governing challenges once he takes office on Jan. 20, Biden can perhaps least afford to lose the backing of the Democratic Party’s fiery progressive base. Nearly 100 House Democrats belong to the Progressive Caucus, which may wield significant influence over Biden's policy agenda as Democrats cling to their narrowest House majority in a century. Flournoy, meanwhile, had been seen as the leading candidate for defense secretary under a Democratic president since Hillary Clinton’s failed 2016 campaign. Biden has promised both to fight for big, bold policy changes and to compromise with Republicans.

(Top L-R) Chair of Council of Economic Advisers nominee Cecilia Rouse, Treasury secretary nominee Janet Yellen, and Deputy secretary of the Treasury nominee Adewale Wally Adeyemo. (Bottom L-R) Council of Economic Advisors nominee Jared Bernstein, Office of Management and Budget nominee Neera Tanden, Council of Economic Advisors nominee Heather Boushey. WASHINGTON — President-elect Joe Biden introduced six key members of his economic team to the nation on Tuesday. Biden's economic advisors described how their early experiences of hardship became windows through which they still view economic policy as accomplished economists. Especially if they lost a job, the financial problems, the family problems, the health problems, the loss of dignity and self-worth."

He picked liberal advisers who have long prioritized the nation’s workers and government efforts to address economic inequality. Biden repeatedly evoked his work as vice president when the Obama administration oversaw the economic recovery following the 2008 financial crisis, noting that many of those on his newly formed economic team worked closely with him then. “We might have to ask Lin-Manuel Miranda, who wrote a musical about the first secretary of the treasury, Hamilton, to write another musical about the female secretary of the treasury,” Biden joked. The president-elect also selected Wally Adeyemo to be Yellen’s deputy, which would make him the first Black deputy treasury secretary. As he has in recent weeks, Biden repeated calls for Congress to pass immediate pandemic relief funding even before he takes office.

– With unemployment still high and the pandemic threatening yet another economic slump, President-elect Joe Biden is assembling a team of liberal advisers who have long focused on the nation’s workers and government efforts to address economic inequality. Biden also selected Wally Adeyemo to be Yellen’s deputy, which would make him the first Black deputy treasury secretary. “They’re fairly conventional liberal economists and experts.”Still, the Biden administration’s ambitious goals will face solid opposition from Republicans in Congress. She first made her mark in the Clinton orbit, and served as policy director for Hillary Clinton’s 2008 presidential race. Bernstein has also worked as a social worker and was an economist at the Economic Policy Institute, a labor-supported think tank.

President-elect Joe Biden and his transition team announced on Monday several nominees and appointments for the incoming administration's top economic posts. The transition team confirmed CNBC's earlier report that former Federal Reserve Chair Janet Yellen would be Biden's official nominee for Treasury secretary. "As Treasury Secretary, I will work every day towards rebuilding that dream for all." Macroeconomic and national security advisor Wally Adeyemo was nominated to serve as deputy secretary of the Treasury. If confirmed, Adeyemo would be the first African American deputy secretary of the Treasury.

Biden also selected Wally Adeyemo to be Yellen’s deputy, which would make him the first Black deputy treasury secretary. Rouse, Tanden and Adeyemo will all require Senate confirmation, and Tanden in particular is already drawing heavy Republican criticism. “They’re fairly conventional liberal economists and experts.”Still, the Biden administration’s ambitious goals will face solid opposition from Republicans in Congress. She first made her mark in the Clinton orbit, and served as policy director for Hillary Clinton’s 2008 presidential race. Bernstein has also worked as a social worker and was an economist at the Economic Policy Institute, a labor-supported think tank.

"No decisions, from personnel to policy, will be made until after the election,” Biden transition spokesman Cameron French said Wednesday. Those roles include leaders of the treasury and health and human services departments and the director of the National Economic Council. One person familiar with the transition planning said Buttigieg could also be an ambassador to the United Nations. If Biden wins, it's unclear how closely Trump administration officials would work with the incoming team. “Is it going to mean the Biden campaign’s not going to be able to conduct the transition?

She said the two sides would take stock on Tuesday, which she has staked out as the deadline if a deal is to be reached before the election. Pelosi is angling for the best deal she can get — maybe that’s now, maybe it’s later. And if history is any guide, prospects for a deal in the lame-duck session after the election could be dim. But the Senate GOP bill has failed once before, and Trump himself says it's too puny. For months she has been promising a COVID relief package of more than $2 trillion stuffed with Obama-era stimulus ideas.

One of Joe Biden's economic advisors said Wednesday that he's not ready to "litigate" the timing of a planned corporate tax hike with the U.S. economy still recovering from the coronavirus recession. The Biden plan includes "deep investments in child care, in elder care, in housing, in clean energy, in public transit, in renewables." But some businesses have expressed worries that a hike in the corporate tax rate could exacerbate an already-fraught economic backdrop and dampen already-compressed profit margins. The plan would also tax long-term capital gains at the ordinary income tax rate of 39.6% on income above $1 million. "If you have losses ... those are deducted so that the corporations that pay the higher tax rate are highly profitable corporations."

She added that "walking away from coronavirus talks demonstrates that President Trump is unwilling to crush the virus." President Donald Trump said Tuesday he has told his administration's negotiators to end coronavirus stimulus talks with Democrats until after the Nov. 3 election. In his tweets Tuesday, Trump appeared to argue the U.S. economy does not need any more stimulus. Trump's push to stop negotiations came only hours after Federal Reserve Chair Jerome Powell urged Congress to approve more fiscal stimulus. While Congress faced an uphill path to passing aid before the election, Trump's decision to suddenly call off active talks shocked political and business observers alike.

Former Federal Reserve Chair Janet Yellen was among a team of advisers who briefed Joe Biden on Thursday about the economic fallout from the coronavirus. The presumptive Democratic presidential nominee and his newly chosen running mate, California Sen. Kamala Harris, participated in the briefing from separate, socially distanced tables at a hotel in Wilmington, Delaware. Word of Yellen's advising Biden is also significant because Biden's campaign had previously been guarded about who was providing it economic expertise. The group was also joined by the Biden campaign's senior policy advisor, Jake Sullivan. ___Associated Press Economic Writer Martin Crutsinger in New York contributed to this report.

As Republicans and Democrats fought to spin Thursday's jobs numbers to their advantage, both sides face tremendous political risks in navigating a delicate and defining issue heading into the presidential campaign's final months. Todays announcement proves that our economy is roaring back, Trump exulted to reporters at the White House after the June numbers were released. Jared Bernstein, a Biden economic adviser, encouraged Congress to adopt a new round of fiscal stimulus for unemployed Americans immediately. Biden has released his own plan to combat coronavirus, which calls for a massive surge in testing and required face masks for all people in public. Trump, however, focused on the best of the news, declaring that it would die with a Biden victory in November.

As Republicans and Democrats fought to spin Thursday's jobs numbers to their advantage, both sides face tremendous political risks in navigating a delicate and defining issue heading into the presidential campaign's final months. Todays announcement proves that our economy is roaring back, Trump exulted to reporters at the White House after the June numbers were released. Jared Bernstein, a Biden economic adviser, encouraged Congress to adopt a new round of fiscal stimulus for unemployed Americans immediately. Biden has released his own plan to combat coronavirus, which calls for a massive surge in testing and required face masks for all people in public. Trump, however, focused on the best of the new news, declaring that it would die with a Biden victory in November.

To have true justice in America, we need economic justice, Biden said this week in Philadelphia. The former vice president says the plans to be unveiled later this month will focus on housing, education and access to capital. Biden, who ran a centrist campaign to win the primary, was moving to the left on some economic issues before the virus hit. But as Biden and other alumni of the Obama administration can attest, grand ambitions sometimes meet more challenging realities. Austan Goolsbee, Obamas chief economic adviser during the 2008 campaign who later served on the Council of Economic Advisers, noted there was a similar concern during those years that simply reacting to the economic crisis could take the focus off progressive priorities.

Paul Winfree, a former Trump White House director of budget policy, doubted that the holdup on the economic update was on Trump's radar. Maya MacGuineas, president of the Committee for a Responsible Federal Budget, noted that the law requires the White House to update its budget forecast. In 2017, the Trump administration criticized the Obama administration for rosy expectations of growth during the Great Recession more than a decade ago. An updated forecast in the mid-session review could make the Trump White House a similar target for criticism. This is a White House that is in denial about the trajectory of the economy.___Associated Press writers Alexandra Jaffe and Emily Swanson in Washington contributed to this report.

Sen. Elizabeth Warren's sweeping "Medicare for All" plan is too much of a political reach to actually be implemented on Capitol Hill, according to Jared Bernstein, who used to advise her Democratic presidential rival Joe Biden. Tell us about what you would do; what you think is in the realm of possible," Bernstein told CNBC on Monday. "This debate, this is just basically like saying, 'I'm going to buy a unicorn and I'm going to pay for it with a unicorn.'" That goes for both the plan and its payfors," or how she plans to pay for it. The Massachusetts senator on Friday announced her Medicare for All proposal would cost the country "just under" the estimated $52 trillion-over-a-decade cost of the current system.