White House press secretary Josh Earnest fields press questions. White House dings Trump for his business bankruptcies

The White House dinged Donald Trump on Tuesday for suggesting that President Barack Obama was trying to keep interest rates at zero, saying the billionaire's credibility is questionable because of his business bankruptcies.

CBS News correspondent Major Garrett asked White House press secretary Josh Earnest about Trump's remark that Federal Reserve Chair Janet Yellen "is highly political and she's not raising rates for a very specific reason — because Obama told her not to because he wants to be out playing golf in a year from now and he wants to be doing other things and he doesn't want to see another bubble burst during his administration," in reference to a real-estate bubble.


"So that’s an economic observation made by someone who at least tells the country he has some experience in real estate," Garrett remarked.

“And somebody who’s declared bankruptcy like four times, too," Earnest responded, to chuckles in the briefing room. "So consider the source of that advice.”

It should be noted that while Trump has filed for bankruptcy for his businesses four times, he has not personally filed.

"Out of hundreds of deals that I’ve done, hundreds, on four occasions I’ve taken advantage of the laws of this country, like other people," the business mogul said during the first GOP debate in August. "I’m not going to name their names because I’m not going to embarrass, but virtually every person that you read about on the front page of the business sections, they’ve used the law."