Jared Bernstein Faster Quotations

Unless working families can give up food and gas, this combination of slow wage growth and faster inflation continues to pinch.

In a strong economy, hours and output can both grow, so long as output grows at a faster rate, thus resulting in productivity growth. But... productivity can also grow in a slowdown or recession, when a decline in hours outpaces weak or nonexistent output growth.

It's one thing to run faster in place when the rest of the economy is stagnating as well. But it cuts a little deeper when policymakers are telling you the economy is fine, and you are falling behind.