Biden tackles inflation concerns as he touts wins on infrastructure
CNN
President Joe Biden on Wednesday hit back against inflation concerns and took a victory lap for his recent Senate wins, citing a series of economic reports released in recent days that he says show his plans for the American economy are working.
The President also outlined a number of new steps his administration is taking to lower consumer costs, like groceries and oil. In a speech from the East Room of the White House, Biden touted a new report from the Bureau of Labor Statistics that showed the consumer price inflation slowed during July, though it remained elevated. Stripping out more volatile food and energy items, consumer prices rose 4.3% in the 12 months ended in July, slightly below the June's rise. Overall, prices rose 5.4% over the period, flat compared with June, the Bureau of Labor Statistics reported Wednesday. The report came days after a positive jobs report showed the economy added 943,000 jobs during the month of July.More Related News