Biden: Reversing inflation that hurts Americans pocketbooks is a top priority
Reversing the wave of inflation that drove US consumer prices to a 30-year high in October will be a "top priority," President Joe Biden said Wednesday. "Inflation hurts Americans pocketbooks, and reversing this trend is a top priority for me," Biden said after government data showed consumer prices accelerated in October, rising 6.2 percent over the past year.
- World
- Reuters
- Published Date: 06:32 | 10 November 2021
- Modified Date: 08:24 | 10 November 2021
U.S. President Joe Biden said on Wednesday he has asked National Economic Council to work to reduce energy costs and the Federal Trade Commission to push back on market manipulation in the energy sector in a larger push to reverse inflation.
The Democratic president said he was committed to the independence of the Federal Reserve in its efforts to combat inflation. "Inflation hurts Americans pocketbooks, and reversing this trend is a top priority for me," he said in a statement.
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