In recent speeches, President Biden has stopped talking so much about inflation worries. biden kprc2 click2houston inflation
It's a self-edit ahead of the midterm elections in November, prompted in part by the easing of inflationary pressures. But Biden is also attempting to shift the spotlight to his, the loss of abortion protections and the threats he says are posed to democracy by the many Republican leaders still under the sway of former President Donald Trump.
The government on Tuesday will release its consumer prices report for August, with economists surveyed by FactSet expecting annual inflation to be at 8.1%. That's down from the 40-year peak of 9.1% in June, but it's well above the Federal Reserve's target of 2%. , warn that bringing down inflation will likely mean layoffs and a drastic rise in the unemployment rate despite Biden's hopes.
Meanwhile, Republican lawmakers are trying to keep voters focused on the GOP version. They say Biden's $1.9 trillion coronavirus relief package and resistance to oil drilling leases has led to inflation, although prices are rising worldwide because of the pandemic, Russia’s invasion of Ukraine and troubled supply chains.
White House officials still describe inflation as Biden's top economic priority. The administration released a 58-page economic blueprint last Friday that details its work on infrastructure, climate change, computer chip production and other policies.The blueprint said that going forward, “The president’s near-term priority when it comes to the labor market is bringing down inflation without giving up the substantial progress we’ve made for American workers.
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