Making the White House case for an improving economy and business climate, Jason Furman, chairman of the Council of Economic Advisers, told CNBC on Friday that investors who bought the S&P 500 when Barack Obama took office in January 2009 would be up about 140 percent.
"I think a whole bunch of things have gone into that increase—a lot of it being a sign of the strengthening economy," Furman said in a "Squawk Box" interview.
While acknowledging that challenges remain for the economy, he said, "it looks like things are moving in the right direction and moving a bit faster." He pointed to an improving labor market and played down last month's weaker-than-expected jobs report.
"If you look at jobs over the course of the year, they're averaging 215,000 jobs a month. That's up from 194,000-job-a-month pace we had last year," he continued. "You look at the unemployment rate, it's fallen 1.1 percentage points in the last 12 months."
Critics of the president say the stock market and the economy have rebounded in spite of the administration's policies and because of the Federal Reserve's easy monetary policies over the past five years.
Refusing to comment on the Fed directly, Furman said: "If you're trying to look at the causes of [income] inequality I don't think monetary policy as a general economic matter has a whole lot to do with it."
"I think there are a lot of forces that led to a buildup in inequality," he continued. "It's something that's happened over several decades."