Economic data points ‘real momentum’

Cautious approach: Shoppers walk along Prince Street in New York. Despite the growing optimism about the US economy, the Biden administration says it remains alert to geopolitical risks including Russia’s ongoing war in Ukraine. — AP

WASHINGTON: Higher consumer spending over the holiday season, real wage gains over the last nine months, and a jump in consumer confidence point to a good start for 2024, says Jared Bernstein, chairman of the White House Council of Economic Advisers.

Bernstein told Fox News Sunday that President Joe Biden would continue to focus on lowering costs for Americans if he won a second term in the November 2024 presidential election.