On Friday, Fox News’ Bill Hemmer criticized former Obama Economic Council Chair Jason Furman for a tweet that said inflation and supply chain disruptions were “high class problems.”
Hemmer made his remarks on his program “America’s Newsroom.”
Most of the economic problems we're facing (inflation, supply chains, etc.) are high class problems. We wouldn't have had them if the unemployment rate was still 10 percent. We would instead have had a much worse problem.
— Jason Furman (@jasonfurman) October 14, 2021
Hemmer On Gasoline, Goods
“To paraphrase Jay Leno, ‘what in the hell were you thinking?’” Hemmer said to Furman, with Furman acknowledging that inflation is something that affects many families.
Furman said, “The problem isn’t that our ports stopped working, it’s that people are buying so much stuff that so much is coming through our ports right now. We have record volumes, you know that both have a good side, a bad side, you need to keep both those in your head.”
Hemmer noted that it is primarily the middle class who are paying higher prices for goods.
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Hemmer said, “My guess would be if you were paying two bucks a gallon for gasoline a year ago and now it’s over four bucks — that’s not a high-class problem for anyone. Middle-class America is paying for that.”
White House Chief of Staff Ron Klain shared Furman’s inflation tweet on Thursday, and got heat for doing so.
Psaki Defends Jason Furman Tweet
But White House press secretary Jen Psaki defended Klein’s retweet.
“So I think the point here is: While there are some critics who are saying — what some of these critics are saying is: I don’t — we don’t know if they’re saying that what they thought was great was when the unemployment rate was double what it is today,” Psaki said at Thursday’s White House press briefing.
She added, “Or when people were locked in their homes and therefore gas prices were lower. We’re at this point because the unemployment rate has come down and been cut in half, because people are buying more goods, because people are traveling, and because demand is up, and because the economy is turning back on.”
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