Criticism targets Jared Bernstein, Chair of the Council of Economic Advisers, for alleged lack of understanding about bonds, sparking concerns about the competency of those in charge of US economic policy.
Biden's chief economist literally has no idea how bonds work 🤯
This is actually kind of scary. I didn't think they were this dumb. t.co/trD9ckYvBl
— Peter St Onge, Ph.D. (@profstonge) May 3, 2024
Jared Bernstein, literally the Chair of the Council of Economic Advisers, the main agency advising Biden on economic policy, has a degree in music and social work.👀🙀 pic.twitter.com/qUGOAmhFhZ
— SciGuy (@SciGuy65) May 3, 2024
The US Treasury sells bonds, a form of borrowing to fund government spending.
The Federal Reserve “prints” money which is actually just creating money out of thin air and digitally transfers this liquidity to major banks to pad their balance sheets so they can lend it out and…
— Geoff Sakala Based 🇺🇸🦅🐺🦈 (@geoffsakala) May 3, 2024