Biden insists US inflation is 'expected' and only 'temporary' and insists spending will LOWER prices
3 years, 5 months ago

Biden insists US inflation is 'expected' and only 'temporary' and insists spending will LOWER prices

Daily Mail  

President Joe Biden on Monday hit back at growing concerns that his massive spending plans were driving up inflation, insisting that price rises were 'temporary' and 'expected' as the nation tried to bounce back from the pandemic. But Biden said the investments would rebuild U.S. supply chains and ease pressure on production that had contributed to rising prices. His comments are the latest public attempt to reassure an anxious public, even though Federal Reserve chairman Jerome Powell last week said inflation could remain elevated for months. President Biden hit back at inflation fears, saying that price rises were 'temporary' and 'expected' as the nation tried to bounce back from the pandemic Inflation jumped 5.4 per cent in June compared to a year ago The cost of staples such as milk, bacon and coffee surged in June in comparison to last year 'Our experts believe and the data show that most of the price increases we've seen were expected and are expected to be temporary. Biden said investments would rebuild U.S. supply chains and ease pressure on production that had contributed to rising prices House Republicans kept up their attacks on Monday, outlining how inflation would increase the burden on 'hard-working middle-class families' Biden said his 'blue-collar blueprint' for building back the economy was crucial to beating down inflation.

Inflation Prices Families Price House Biden Republicans  wages  spending  raising  insists  price  lower  biden  infrastructure  prices  families  inflation  economy  expected  temporary

History of this topic

New inflation numbers threaten Trump and GOP's plans for tax cuts and tariffs: report
1 week, 6 days ago

New inflation numbers threaten Trump and GOP's plans for tax cuts and tariffs: report

Raw Story  

New Labor Department data released Wednesday showed stubborn inflation continued, which could make it difficult for President-elect Donald Trump and his GOP allies to pass certain legislation they've planned. While the consumer price index increased 2.7 percent in November from 2023, it was also larger than September's 2.4 percent rise, The Washington Post reported. "While Trump criticized President Joe Biden’s …

Fox News host fact-checks Republican governor who claimed 35 percent inflation
4 months, 1 week ago

Fox News host fact-checks Republican governor who claimed 35 percent inflation

Raw Story  

Fox News host Neil Cavuto gave New Hampshire Gov. While discussing the increased costs of living, Sununu said voters won’t look at the economy's recent strength, but rather price hikes that have come over President Joe Biden’s term. “They are going to look at what's happened over the last 4 years – That’s where you are looking at 25, 30, …

Biden economy: The labor market has more than compensated for inflation.
5 months ago

Biden economy: The labor market has more than compensated for inflation.

Slate  

Joe Biden restored full employment as the bedrock economic commitment of the Democratic Party. Until Biden’s presidency, American full employment—the economic situation when everyone who wants a job actually has a job—was essentially a historical phenomenon confined to the 30 years between the opening of World War II and the close of the 1960s, with fleeting spells of caveated grace …

Growth, inflation, jobs: Biden and Trump’s economic records compared
5 months, 3 weeks ago

Growth, inflation, jobs: Biden and Trump’s economic records compared

Al Jazeera  

US voters view the economy as their number one priority ahead of November’s presidential election. United States President Joe Biden and former US President Donald Trump’s first debate of the 2024 campaign has refocused attention on their respective economic records in office. Inflation Biden’s tenure has been marked by far higher inflation compared with Trump’s – although many of the …

Biden polls: Inflation is not the president’s problem.
6 months, 2 weeks ago

Biden polls: Inflation is not the president’s problem.

Slate  

In January of 1980, Jimmy Carter had been in office for three years, and the economy was terrible. Biden isn’t just clearing the low bar set by the Carter administration, he’s besting every other leader in the developed world, with the United States enjoying stronger wages, lower inflation, and better job growth than any nation in the G7, and its …

US inflation eased last month in the first slowdown of 2024
7 months, 1 week ago

US inflation eased last month in the first slowdown of 2024

Associated Press  

WASHINGTON — Led by lower food and auto prices, inflation in the United States cooled slightly last month after three elevated readings, likely offering a tentative sigh of relief for officials at the Federal Reserve as well as President Joe Biden’s re-election team. Instead, he stressed that the Fed’s policymakers need “greater confidence” that inflation is falling to their 2% …

Surprise rise in inflation to 3.2% driven by soaring gas prices - with fears cost to fill up a car will keep rising and hamper Biden's plan to cut inflation in election year
9 months, 1 week ago

Surprise rise in inflation to 3.2% driven by soaring gas prices - with fears cost to fill up a car will keep rising and hamper Biden's plan to cut inflation in election year

Daily Mail  

President Biden today welcomed new inflation data despite it showing costs have risen 3.2 percent in the last year. Pictured: during a speech at a YMCA March 11, 2024 Inflation rose slightly to 3.2 percent in February as prices were pushed up by housing costs and gas The inflation figure plays a big part in the whether the Federal Reserve …

US consumer inflation falls to 3.1pc in January, but less than expected
10 months, 1 week ago

US consumer inflation falls to 3.1pc in January, but less than expected

Hindustan Times  

US consumer inflation cooled in January but at a slower rate than expected, resisting President Joe Biden's efforts to soothe families' cost of living concerns in an election year. U.S. President Joe Biden The closely watched Consumer Price Index rose 3.1 percent from a year ago last month, down from 3.4 percent in December, the Department of Labor said on …

Slowing inflation suggests that Biden’s policies are helping, but American voters are still hurting
11 months, 1 week ago

Slowing inflation suggests that Biden’s policies are helping, but American voters are still hurting

Associated Press  

WASHINGTON — President Joe Biden can make an increasingly strong case that he’s helped fix inflation — if only he can get voters to believe him. Leading GOP lawmakers such as Rep. Jason Smith of Missouri, chairman of the House Ways and Means Committee, greeted the latest inflation numbers as evidence that voters are still suffering from high prices: “President …

Biden sells economic strength, but voters aren't buying yet
11 months, 1 week ago

Biden sells economic strength, but voters aren't buying yet

The Hindu  

U.S. President Joe Biden has good news to sell on the economy as he seeks reelection in November but voters don't seem to be buying it. With the political wisdom saying that US elections are won on "the economy, stupid" -- as the 1992 Bill Clinton campaign famously said -- Mr. Biden could have been forgiven for thinking the economy …

Biden Celebrates Inflation Reduction Act’s Anniversary; Voters Seem Not To Notice
1 year, 4 months ago

Biden Celebrates Inflation Reduction Act’s Anniversary; Voters Seem Not To Notice

Huff Post  

President Joe Biden speaks during an event to mark the anniversary of the Inflation Reduction Act in the East Room of the White House on Aug. 16. Tom Williams via Getty Images WASHINGTON ― President Joe Biden on Wednesday celebrated the first anniversary of one of his major legislative achievements to date, the Inflation Reduction Act, taking credit for lower …

Biden marks 1-year anniversary of climate, health law, says ‘we’re investing in all of America’
1 year, 4 months ago

Biden marks 1-year anniversary of climate, health law, says ‘we’re investing in all of America’

Associated Press  

WASHINGTON — President Joe Biden proclaimed Wednesday his administration is “turning things around” for Americans when it comes to the economy, with his signature climate, health care and tax package giving people “more breathing room” on prices and investing anew in clean energy jobs. “We’re investing in all of America — in the heartland, and coast to coast.” His remarks, …

Inflation drops to 3% and Biden hopes to turn a weakness with voters into a strength
1 year, 5 months ago

Inflation drops to 3% and Biden hopes to turn a weakness with voters into a strength

Associated Press  

WASHINGTON — The politics of inflation took a sharp turn Wednesday with a report showing consumer prices rose at the slowest pace since the early months of Joe Biden’s presidency. “It is particularly notable and highly consistent with Bidenomics to see this steep a decline in the rate of inflation while employment remains so uniquely strong.” The president was quick …

Biden is eager to run on the economy — ‘Bidenomics’ — but voters have their doubts
1 year, 5 months ago

Biden is eager to run on the economy — ‘Bidenomics’ — but voters have their doubts

Associated Press  

WASHINGTON — President Joe Biden is eager to take full political ownership of the U.S. economy — a reflection of the White House belief that inflation is fading, job growth is solid and voters need to know about it. For him, there’s a happy confluence of the coming 2024 reelection campaign and a favorable turn in recent economic data, leading …

Biden sets up for an election fight with his budget proposal
1 year, 9 months ago

Biden sets up for an election fight with his budget proposal

Al Jazeera  

Biden’s proposal will face stiff opposition in Congress and has ‘little-to-no shot’ at becoming law, experts say. The White House refers to it as the “billionaire minimum income tax.” The budget includes a proposal to raise the corporate tax rate to 28 percent, higher than the current level but still below the 35 percent tax rate that prevailed before 2017 …

US inflation slows to 6.4%, but price pressures re-emerge
1 year, 10 months ago

US inflation slows to 6.4%, but price pressures re-emerge

Associated Press  

WASHINGTON — The pace of consumer price increases eased again in January compared with a year earlier, the latest sign that the high inflation that has gripped Americans for nearly two years is slowly easing. At the same time, Tuesday’s consumer price report from the government showed that inflationary pressures in the U.S. economy remain stubborn and are likely to …

Inflation rocked Biden’s second year as president. There’s more economic trouble on the horizon
1 year, 11 months ago

Inflation rocked Biden’s second year as president. There’s more economic trouble on the horizon

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery President Joe Biden listens during an event about infrastructure in …

Biden sees economy avoiding recession, but risks remain
2 years ago

Biden sees economy avoiding recession, but risks remain

Associated Press  

WASHINGTON — President Joe Biden assured Americans on Friday that the U.S. economy is chugging along in the holiday season, but the very strength of a new jobs report showed that high inflation remains a recession threat. “I’ve supported paid sick leave for a long time,” said the president, a staunch labor union supporter. “I’m going to continue that fight …

Joe Biden says inflation help is coming but ‘will take time’
2 years, 1 month ago

Joe Biden says inflation help is coming but ‘will take time’

The Hindu  

U.S. President Joe Biden cautioned on Friday that "it is going to take time" for inflation to recede, but he offered fresh assurance that legislation he signed earlier this year will soon help limit costs for health care and energy. Rouse's planned departure, and it said Brian Deese, director of Mr. Biden's National Economic Council, plans to depart next year. …

How Biden changed his tune on inflation as prices soared and the midterms loomed
2 years, 1 month ago

How Biden changed his tune on inflation as prices soared and the midterms loomed

NPR  

How Biden changed his tune on inflation as prices soared and the midterms loomed Enlarge this image toggle caption Dustin Chambers for NPR Dustin Chambers for NPR When Jack Hunt walked out of the Forsyth County, Ga., elections office after casting his ballot, he had one primary concern on his mind — the economy. At his Turkish restaurant in Lehigh …

Biden preaches patience to voters spooked by economic tumult
2 years, 2 months ago

Biden preaches patience to voters spooked by economic tumult

Associated Press  

WASHINGTON — When it comes to reassuring Americans about an economy that’s an election-year challenge for his party, President Joe Biden is telling the country to hold on. With GOP ads citing inflation and high gas prices, there is growing pressure for the White House to address the public’s concerns about the economy before Election Day. Jason Furman, who led …

Inflation falls to 8.3% - the second drop in a row - but still sits near 40-year high
2 years, 3 months ago

Inflation falls to 8.3% - the second drop in a row - but still sits near 40-year high

Daily Mail  

Inflation in the US dipped again in August to an 8.3 percent annual rate, thanks largely to falling gas prices, but remained near a four-decade high even as President Joe Biden says he is making progress on the issue. Falling gas prices led the retreat in August's inflation figures, with gasoline dropping 10.6 percent on the month, though pump prices …

Biden’s midterm self-edit: Less talk about inflation woes
2 years, 3 months ago

Biden’s midterm self-edit: Less talk about inflation woes

Associated Press  

WASHINGTON — President Joe Biden has stopped talking so much about inflation worries. Biden has largely put the blame for inflation on global forces such as Russian President Vladimir Putin’s February invasion of Ukraine, even as he says his own policies are reducing the burdens of higher prices. “Since President Biden took office, prices in have spiked by 13%.” That …

Inflation Reduction Act may have little impact on inflation
2 years, 4 months ago

Inflation Reduction Act may have little impact on inflation

Associated Press  

WASHINGTON — With inflation raging near its highest level in four decades, President Joe Biden on Tuesday signed into law his landmark Inflation Reduction Act. And the University of Pennsylvania’s Penn Wharton Budget Model concluded that, over the next decade, “the impact on inflation is statistically indistinguishable from zero.” Such forecasts also undercut the arguments that some Republicans, such as …

What the Inflation Reduction Act does and doesn't do about rising prices
2 years, 4 months ago

What the Inflation Reduction Act does and doesn't do about rising prices

NPR  

What the Inflation Reduction Act does and doesn't do about rising prices Enlarge this image toggle caption Kevin Dietsch/Getty Images Kevin Dietsch/Getty Images The massive climate, health care and tax bill making its way toward President Biden's desk is called the Inflation Reduction Act. "And that's why even Democrats and Republicans, former Treasury secretaries, economists across the board have said …

Lower prices offer Americans slight reprieve from inflation
2 years, 4 months ago

Lower prices offer Americans slight reprieve from inflation

Associated Press  

WASHINGTON — Falling prices for gas, airline tickets and clothes gave Americans a little bit of relief last month, though overall inflation is still running at close to its highest level in four decades. Last month’s declines in travel-related prices helped lower core inflation, a measure that excludes the volatile food and energy categories and provides a clearer picture of …

‘Uncharted territory’: Five key takeaways on US inflation
2 years, 5 months ago

‘Uncharted territory’: Five key takeaways on US inflation

Al Jazeera  

What consumers feeling the pain of rising food and fuel prices need to know. “The size of the shocks that have buffeted the economy and the speed and suddenness with which things have changed has put us in a place where it’s very challenging from a monetary policy standpoint.” Following its meeting next week, the Fed is expected to raise …

US inflation surges again in June, raising risks for economy
2 years, 5 months ago

US inflation surges again in June, raising risks for economy

Associated Press  

WASHINGTON — U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively -- trends that raise the risk of a recession. The government’s consumer price index soared 9.1% over the past year, the biggest yearly increase since 1981, …

U.S. inflation reached a new 40-year high of 9.1% in June
2 years, 5 months ago

U.S. inflation reached a new 40-year high of 9.1% in June

LA Times  

U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively — trends that raise the risk of a recession. The government’s consumer price index soared 9.1% in June from June 2021, the biggest year-over-year increase since 1981, with …

What's causing inflation
2 years, 5 months ago

What's causing inflation

NPR  

What's causing inflation AILSA CHANG, HOST: Right now we are all paying quite a bit more for pretty much everything. So it's true that, like, if wages had just not grown at all over the past 15 months, inflation would be a bit lower today. And also every time wage growth comes in beneath overall inflation, it's actually serving as …

US president Joe Biden says recession is 'not inevitable'
2 years, 6 months ago

US president Joe Biden says recession is 'not inevitable'

Firstpost  

In an interview, the president emphasised the battered economy that he inherited and the lingering psychological scars caused by a pandemic had disrupted people’s sense of identity Washington: President Joe Biden said on 16 June, 2022, the American people are “really, really down” after a tumultuous two years with the coronavirus pandemic, volatility in the economy and now surging gasoline …

AP Interview: Biden says a recession is ‘not inevitable’
2 years, 6 months ago

AP Interview: Biden says a recession is ‘not inevitable’

Associated Press  

WASHINGTON — President Joe Biden said Thursday the American people are “really, really down” after a tumultuous two years with the coronavirus pandemic, volatility in the economy and now surging gasoline prices that are slamming family budgets. He bristled at claims by Republican lawmakers that last year’s COVID-19 aid plan was fully to blame for inflation reaching a 40-year high, …

US inflation at new 40-year high as price increases spread
2 years, 6 months ago

US inflation at new 40-year high as price increases spread

Associated Press  

WASHINGTON — The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6% last month from a year earlier, faster than April’s year-over-year increase of 8.3%, the Labor Department said Friday. Friday’s report underscored fears that inflation …

Biden vows to battle inflation as prices keep climbing
2 years, 6 months ago

Biden vows to battle inflation as prices keep climbing

Associated Press  

LOS ANGELES — In President Joe Biden’s estimation, the U.S. is in a strong position to overcome the worst inflation in more than 40 years. Biden on Friday pledged to keep fighting against inflation while touring the Port of Los Angeles, America’s busiest port and a place that the White House said last October would be key for reducing price …

US inflation hit a new 40-year high in May of 8.6 percent
2 years, 6 months ago

US inflation hit a new 40-year high in May of 8.6 percent

Al Jazeera  

President Joe Biden will talk about inflation and his administration’s efforts to lower prices on Friday in Los Angeles. The costs of petrol, food and other necessities jumped in May, raising inflation in the United States to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6 percent last month from 12 months …

President Biden doesn’t have a silver bullet for inflation
2 years, 7 months ago

President Biden doesn’t have a silver bullet for inflation

CNN  

New York CNN Business — I can’t remember a more difficult, complicated set of factors at play all at once in the economy – with no road map. Morgan Stanley put it this way on Sunday: “We live in the most chaotic, hard-to-predict macroeconomic times in decades.” You can see it in the punishing sell-off this year in stocks: The …

Biden says fighting high inflation is his ‘top domestic priority’
2 years, 7 months ago

Biden says fighting high inflation is his ‘top domestic priority’

Al Jazeera  

US President Joe Biden said the COVID-19 pandemic, coupled with supply chain issues and Russia’s war on Ukraine, is to blame for the inflation spike. “I don’t blame them.” With a spike in inflation having pushed annual consumer prices more than eight percent higher, the president highlighted his release of oil from strategic petroleum reserves and pressure on companies to …

Feeling a little dread about the economy? You’re not alone
2 years, 7 months ago

Feeling a little dread about the economy? You’re not alone

CNN  

A version of this story appeared in CNN’s What Matters newsletter. To get it in your inbox, sign up for free here CNN — There are plenty of reasons for that feeling of economic doom that’s going around: And while he’ll cheer stronger-than-expected new job growth data released Friday, there’s very little President Joe Biden or anyone else can do …

Inflation adds to voters' frustrations in a key congressional district
2 years, 8 months ago

Inflation adds to voters' frustrations in a key congressional district

NPR  

Inflation adds to voters' frustrations in a key congressional district Enlarge this image toggle caption Asma Khalid/NPR Asma Khalid/NPR Lisa Palmer feels like she spends $100 at the grocery store but walks out with only $70 worth of food. Sponsor Message "Voters have been in a really ornery mood," said Lanae Erickson, senior vice president at the centrist Democratic think …

Rampant inflation, anxiety stymie Biden effort to focus on strong economic growth
2 years, 8 months ago

Rampant inflation, anxiety stymie Biden effort to focus on strong economic growth

LA Times  

The White House is wrestling with how to highlight good economic news amid signs of rising inflation. The small percentage of swing voters up for grabs in November’s midterm election, he said, “are going to make a judgment this fall not based on charts and data but based on how they feel about their jobs and paychecks.” Eager to recast …

AP-NORC poll: Low marks for Biden on economy as prices rise
2 years, 9 months ago

AP-NORC poll: Low marks for Biden on economy as prices rise

Associated Press  

WASHINGTON — A majority of Americans say they don’t blame President Joe Biden for high gasoline prices, but they’re giving his economic leadership low marks amid fears of inflation and deep pessimism about economic conditions. Yet less than half say the jump in gas prices is Biden’s fault, a reflection of how the country is processing Russian President Vladimir Putin’s …

AP FACT CHECK: Biden skirts blame on inflation; GOP gas hype
2 years, 9 months ago

AP FACT CHECK: Biden skirts blame on inflation; GOP gas hype

Associated Press  

WASHINGTON — Facing political attacks over rising costs, President Joe Biden exaggerated his role in reducing the federal deficit and skirted responsibility by asserting that a flood of government spending into the economy has no impact at all on higher prices. Biden last year signed a $1.9 trillion coronavirus relief package known as the American Rescue Plan — and many …

Biden’s inflation plan upends thinking on jobs sent overseas
2 years, 9 months ago

Biden’s inflation plan upends thinking on jobs sent overseas

Associated Press  

WASHINGTON — President Joe Biden has a solution for high inflation that seems counterintuitive: Bring factory jobs back to the U.S. It can either pull back on support and cause wages and growth to cool, or it can get rid of the pressure points that can lead to inflation when emergencies and uncertainties occur by having more goods manufactured in …

In First SOTU, Joe Biden Seeks To Reassure Americans Worried About Rising Prices
2 years, 9 months ago

In First SOTU, Joe Biden Seeks To Reassure Americans Worried About Rising Prices

Huff Post  

LOADING ERROR LOADING WASHINGTON — In his first State of the Union address on Tuesday, President Joe Biden sought to reassure Americans worried about rising prices, a top economic issue and growing political threat for his party just months away from the November midterm elections. “We’re going to be OK.” Surging inflation and high gas prices have overwhelmed low unemployment, …

Biden puts focus on drug prices in fight against inflation
2 years, 10 months ago

Biden puts focus on drug prices in fight against inflation

Associated Press  

CULPEPER, Virginia — Unable to tame inflation that has worsened sharply under his watch, President Joe Biden stressed Thursday that his administration’s policies would cut prescription drug prices and make life more affordable for families. Prescription drugs remain a politically safe focal point for Biden’s visit, and Spanberger said the president was right to push forward on it. Biden’s drug …

Analysis: Biden finds inflation overshadows strong economy
2 years, 11 months ago

Analysis: Biden finds inflation overshadows strong economy

Associated Press  

President Joe Biden is paying a steep price for high inflation — a problem that festered during his first year in office instead of fading away as he suggested it would. White House officials are now trying to reconcile this paradox, as Biden’s future may depend on making people feel good about not just their bank accounts but also the …

Biden hits a new low in the NPR/Marist poll as inflation concerns rise
3 years, 1 month ago

Biden hits a new low in the NPR/Marist poll as inflation concerns rise

NPR  

Biden hits a new low in the NPR/Marist poll as inflation concerns rise Enlarge this image toggle caption Brendan Smialowski/AFP via Getty Images Brendan Smialowski/AFP via Getty Images Americans' most pressing economic concern is inflation, and it's contributing to a decline in how they view President Biden, according to a new NPR/Marist poll. How Americans view Biden's job overall mirrors …

Biden aims to do what presidents often can’t: Beat inflation
3 years, 1 month ago

Biden aims to do what presidents often can’t: Beat inflation

Associated Press  

WASHINGTON — LBJ tried jawboning. The Ford administration printed buttons exhorting Americans to “Whip Inflation Now.’’ Over the years, American presidents have tried, and mostly floundered, in their efforts to quell the economic and political menace of consumer inflation. Confronting a spike in gasoline and other consumer prices that’s bedeviling American households, Biden on Tuesday ordered the release of 50 …

Joe Biden’s Biggest Economic Problem? Inflation Is Rising Faster Than Wages.
3 years, 1 month ago

Joe Biden’s Biggest Economic Problem? Inflation Is Rising Faster Than Wages.

Slate  

If you ask most Americans about the job market right now, they’ll tell you it’s fantastic. Unsurprisingly, in a poll last month, two-thirds of Americans told Reuters and Ipsos that “inflation is a very big concern to me,” while the share rating it as the most important issue in the country has started to tick up in Gallup’s survey. For …

Biden’s stimulus plan is fueling short-term inflation, SF Fed paper finds
3 years, 2 months ago

Biden’s stimulus plan is fueling short-term inflation, SF Fed paper finds

CNN  

New York CNN Business — President Joe Biden’s $1.9 trillion American Rescue Plan is contributing to elevated inflation but it isn’t expected to overheat the economy, a new research paper from the San Francisco Federal Reserve concludes. The SF Fed paper finds that the American Rescue Plan helped tighten the labor market and is expected to increase the Fed’s favored …

Discover Related