The Truth is Powerful
Biden’s top economic adviser makes the case for an expansive government role
Cecilia Rouse, chair of the Council of Economic Advisers. “We’ve got a country right now where there have been winners and losers,” she says, and the president wants our economic growth “to be more widely shared.” For Cecilia Rouse, chair of President Joe Biden’s Council of Economic Advisers, now is the time for more government, not less.
“This president is focused on policies that really go to where there is what we call market failures,” she said during an interview with “Marketplace” host Kai Ryssdal. Take infrastructure, for example. “The private sector doesn’t do a very good job of investing in roads and bridges because they can’t fully recoup the benefits of their investments there.”
Rouse spoke with Ryssdal at a time when the country is facing historic levels of inflation. Biden even addressed the nation this week to explain his plan to deal with rising prices, which involves letting the Federal Reserve do its work, preventing corporate price gouging and increasing fuel production.
The following is a transcript of their conversation. To listen, use the media player above.
Kai Ryssdal: You have been an economist for a very long time, and you’ve been in and out of government for a very […]