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02.19.2021

WHITE HOUSE ECONOMIST JARED BERNSTEIN SAYS $1.9 TRILLION PACKAGE WOULD DEAL “BLOW” TO COVID – “THE TAKEOUT” PODCAST FROM CBS NEWS

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CBS News chief Washington correspondent and podcast host Major Garrett interviewed White House economist Jared Bernstein for the latest episode of CBS News’ THE TAKEOUT. During the interview, Rosen told Garrett that the $1.9 trillion package “is calibrated to be of a magnitude to finally deal this COVID-19 virus the blow that hasn’t occurred yet.”

The latest episode of THE TAKEOUT is out now on Apple Podcasts, Spotify and wherever podcasts are available. More from this episode online at CBSNews.com here.

Highlights from this week’s episode:

  • On hoping Congress passes the bill in Mid-March: “We have a deadline that we have to be mindful of, whether it’s unemployment insurance, mortgage forbearance, eviction forbearance. Those kinds of things have to be extended quickly to make sure that the American people and businesses don’t suffer one of those air pockets, another lapse in the relief.”

  • On the K-shaped recovery disproportionately affecting Americans of color: “The upper leg of the K are people who just continue to do well and prosper. And at the bottom leg of the K are people who continue to struggle with the economic impact of the pandemic. We are an economy where the stock (market) is booming and where lines at food banks wrap around blocks for miles.”

  • On concerns of inflation if the package injects too much money at once into the economy. “I don’t believe it will lead to overheating. I think that risk is far smaller than the risk of not doing enough to vanquish the virus and provide people the help they need.”

Read more online: White House economist Jared Bernstein says $1.9 trillion package would deal “blow” to COVID

CHEAT TWEET: NEW: White House economist @econjared told @MajorCBS that President Biden’s American Rescue Plan “is calibrated to be of a magnitude to finally deal this COVID-19 virus the blow that hasn’t occurred yet.”Listen here or wherever you get your podcasts:

THE TAKEOUT also airs on select CBS News Radio affiliates (check local listings). Watch the video feed of episodes on CBSN, CBS News’ 24/7 free streaming news service, Fridays at 5:00 PM, 9:00 PM, and 12:00 AM, ET and Saturdays at 1:00 PM, 9:00 PM, and 12:00 AM, ET.

Follow Major Garrett on Twitter at @MajorCBS. Find THE TAKEOUT on Facebook, Twitter and Instagram. Discover more CBS News podcasts at cbsaudio.com/podcasts.

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Press Contact:

Hugo Rojo

202-913-6818

RojoH@cbsnews.com