Jason Furman, Harvard’s Aetna professor of the practice of economic policy, said the country would not be faced with these issues if the unemployment rate was still 10%, an apparent reference to Federal Reserve Chair Jerome H. Powell’s comments early this year when he said the unemployment rate in January was around that number.
Furman said if that unemployment rate was still a reality, the country would have “had a much worse problem.”
Conservatives on social media took issue with Klain’s retweet, claiming that he was, in effect, downplaying the hardships that some Americans are experiencing.
“Struggling to pay for food, fuel, and housing because of rising prices is not a ‘high class problem,’” Tommy Pigott, the rapid response director for the Republican National Committee, tweeted. “Biden is making everyone worse off, but instead of stopping the damage, their strategy is to try to gaslight Americans.”
Klain did not immediately respond to an after-hours email from Fox News.
President Biden announced a deal on Wednesday to