Klain: Inflation One Reason ‘Voters Don’t Feel’ Biden’s Good Economic Numbers

On Friday’s broadcast of CNBC’s “Squawk Box,” former Biden Chief of Staff Ron Klain stated that while there are strong economic numbers, “voters don’t feel it in the economy” in part due to inflation and “voters measure the success of the economy by their own pocketbook, not by these macro statistics.”

After saying that we have created jobs and have a low unemployment rate, high female labor force participation, and increases in real incomes, “the voters don’t feel it in the economy. And I think there are a lot of reasons for that: One, even though inflation is coming down, prices do hit people. And the administration has done a lot of hard work to bring inflation down, to unkink the supply chains, and to get things going. You had a guest…who talked about you couldn’t find a car a couple of years ago to buy, now we’ve got the auto companies making cars and that’s increasing the supply of cars. It’s hopefully going to bring down the price of cars. That’s a thing that really hits consumers hard. We know that groceries hit consumer[s] hard, and, again, the administration has been working hard to bring down the price of groceries, deal with competition in the industry. I think everyone in the White House knows that voters measure the success of the economy by their own pocketbook, not by these macro statistics. And they need — they still have work to do. They’ve made a lot of progress from what we inherited, but there’s still work to do.”

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