“Nurture the seeds. Don’t stomp on them,” urged Jared Bernstein, chair of the White House Council of Economic Advisers, as his best advice to the incoming administration on fostering sustainable growth of the American economy.

President Joe Biden delivered a speech at the Brookings Institution in Washington, D.C., on December 10, 2024, outlining his “Middle-out, Bottom-up Economic Playbook.”  Bernstein later reiterated these points during a White House press briefing alongside Press Secretary Karine Jean-Pierre.

Bernstein emphasized, “The President’s speech today is the best advice I could give to any member of the incoming economic team, because what it says is we have planted some very important seeds in growing domestic industry, which I think both the outgoing and the incoming administration share the strong desire to see American industry stand up independently, more resilient supply chains.” 

“Yes, we still believe in very robust trade flows,” he added, advising against sweeping tariffs as suggested by President-elect Donald Trump. However, he expressed support for small, and targeted tariffs to address unfair dumping. His primary suggestion, albeit not the most eloquent, was to “nurture the seeds,” they have planted to focus on fostering growth.

“This is not a blue-state thing or a red-state thing.  And, in fact, the President was very clear on this today, most of the investments under the IRA, under CHIPS, even under Infrastructure, are going to red states, not blue states,” Bernstein stated. “Most of them are going to people with relatively lower incomes or lower levels of education, so very much a working-class issue.”

In his speech, President Biden acknowledged that in January 2025, his administration will end, and a new administration will begin.  

“Most economists agree the new administration is going to inherit a fairly strong economy, at least at the moment – an economy going through a fundamental transformation that’s laid out a stronger foundation and a sustainable, broad-based, highly productive growth,” said President Biden adding “And it is my profound hope that the new administration will preserve and build on this progress.” 

President Biden emphasized that “America’s progress is everyone’s progress,” contrasting his administration’s approach with decades of trickle-down economics that disproportionately benefited the wealthiest. His new economic framework aims to grow the economy from the middle out and the bottom up, delivering tangible benefits for all Americans.

Jean-Pierre told White House reporters that the Biden administration has delivered the strongest economic recovery in the world, laying a robust foundation for the future through investments in America, support for workers’ unions, cost reductions, and aid to small businesses.

Over the last four years, Jean-Pierre highlighted, “We have made remarkable progress, and the results speak for themselves: over 60 million jobs created, the lowest average unemployment rate of any administration in 50 years, inflation down faster than almost any other advanced economy, and incomes up almost $4,000.”  

When asked about advice for her successor, Karoline Leavitt, the incoming Press Secretary chosen by President-elect Trump, Jean-Pierre conveyed that they have yet to communicate.

However, she said, “I wish her all the luck.  And this is a great job… I hope she enjoys it,” adding “I love this job. It has been an honor and a privilege to serve as the White House press secretary to President Biden, to this administration.”

Reflecting on her time in the role, she remarked, “This has been an experience that I will always remember,” adding that this is still one of those experiences that will live with her forever. “I know people say how tough this job is and how unrelenting it could be, but I enjoy it. I’ve enjoyed this opportunity. I’ve enjoyed speaking on behalf of the president of the United States. That is a big deal. That is an important job,” she expressed.

She also emphasized the Biden administration’s commitment to reinstating the norms of holding press briefings and highlighted the importance of engaging with the press respectfully.   “We respect the work that you do and what it means to the American people,” she said.

When asked if she would encourage the incoming administration to continue daily press briefings, Jean-Pierre responded, “No, no, no. I think they have to decide for themselves how they want to move forward.”

“Being able to have the freedom of the press and respecting the freedom of the press is, indeed, very much a part of our democracy,” she stressed. “But even when we disagree, we believe it’s important to have that back-and-forth, and it’s healthy, it is part of our democracy, and we want to continue to respect that.”