Biden’s Economic Advisor Jared Bernstein Awkwardly Explains How Money Works

By Madz Dizon

May 04, 2024 03:14 AM EDT

Biden’s Economic Advisor Jared Bernstein Awkwardly Explains How Money Works — Chair of Council of Economic Advisers Jared Bernstein testifies during a hearing before the Financial Services and General Government Subcommittee of the House Appropriations Committee at Rayburn House Office Building on Capitol Hill on March 21, 2024 in Washington, DC. The subcommittee held a hearing on "President Biden's FY2025 Budget Request and Economic Outlook."
(Photo : Alex Wong/Getty Images)

During an awkward moment, President Joe Biden's economic advisor Jared Bernstein was captured struggling in explaining how money works.

Bernstein was participating in an interview for an upcoming documentary called 'Finding The Money,' which focuses on the economy.

Jared Bernstein Stuggles to Explain Topic About Money

However, it appears that even Bernstein struggled to find the right answer during a particularly uncomfortable exchange.

Last June, Bernstein was confirmed as the chair of the United States Council of Economic Advisers.

Voters' concerns about the state of the economy are becoming increasingly popular as the November presidential campaign heats up.

Bernstein Explains Government Money Printing

During the documentary, Bernstein had difficulty expressing his grasp of the economy. He mentioned that the government prints money and lends it through the sale of bonds.

According to Crypto Briefing, experts have criticized Bernstein's comments, suggesting that his understanding of government debt and money printing is too simplistic and could be risky.

The recent debate has once again thrust Bitcoin into the limelight. Bitcoin enthusiasts assert that the limited supply of the digital currency, which is set at 21 million coins, positions it as a possible safeguard against government currency creation and rising prices.

Bitcoin enthusiasts argue that with governments accumulating debt and resorting to money printing to fund their expenses, Bitcoin's autonomy from central bank policies could be an appealing option for investors looking to safeguard their wealth.

DailyMail said the government has been consistently printing money. And it's evident that the government is incurring debt. Otherwise, this debt and deficit conversation wouldn't be happening.

In light of the strong job market, there is a prevailing sentiment among Americans that high prices continue to be a source of frustration, with a significant number of individuals attributing this issue to President Joe Biden.