On Monday's broadcast of CNBC's "Squawk Box," White House Council of Economic Advisers Chair Jared Bernstein responded to criticism that fiscal stimulus created inflation by stating that "the American Rescue Plan was essential to get shots in arms and checks in pockets to get us to the other side of the crisis induced by the pandemic" but there isn't an inflationary impact to government spending now and that while demand factored into earlier inflation, much of it was due to supply issues.