Tag: Inflation
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Biden stumps on job growth, as voters dread inflation
President Joe Biden has notched an envious record on jobs, with 10.3 million gained during his tenure. But voters in Tuesday’s midterm elections are far more focused on inflation hovering near 40-year highs. That’s left the president trying to convince the public that the job gains mean better days are ahead, even as fears of…
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‘Day by day’: Trade bans, inflation send food prices soaring
Soki Wu’s food stall, tucked in a food court in a shopping mall in Singapore, is a crowd favorite for its fresh, juicy “chicken rice,” a national dish. But customers recently began complaining that his chicken didn’t taste quite as good as it used to. Wu was forced to switch to frozen chicken after Malaysia…
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Possible recession looms on anniversary of Biden’s prediction of ‘temporary’ inflation
President Biden told Americans exactly one year ago Tuesday that inflation of 5.4% would be “temporary,” and he was right, in the wrong direction. Consumer prices have kept climbing, to a rate of 9.1% in June. The rise has been so historic that Mr. Biden and his aides lately have given up trying to predict…
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Inflation ‘unacceptably high’ but ‘moving in the right direction,’ White House economic adviser says
A White House economic adviser conceded Sunday that inflation is “unacceptably high” but said it is being blunted by decreasing prices at the pump. Jared Bernstein, a member of the Council of Economic Advisers, noted that rising costs have forced Americans to dip into savings that were increased during the pandemic. “Inflation — which is…