Joe Biden’s Inflation Has Given Working Americans a 5.4% Pay Cut in 2021

At least one White House economic adviser sees inflation lasting longer than the Biden administration thought it would be creating headwinds for the U.S. economic recovery. Jared Bernstein told FOX Business he sees inflation ending around 4% this year but settling back down to 2.3% in 2022. The catch: He cannot say when that will happen and believes we might see elevated inflation into the middle of next year. 

RELATED: CEOs promised to take pay cuts during the pandemic. Did they?

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