US President Joe Biden cautioned that inflation could last “for a while” after data on Friday showed that politically sensitive price pressures unexpectedly accelerated in recent weeks.
“We’re gonna live with this inflation for a while,” Mr Biden said at a Democratic fundraising event in Beverly Hills. “It’s gonna come down gradually, but we’re going to live with it for a while.”
The wary comments at an event hosted by billionaire media magnate Haim Saban came as the administration faces increasing pressure ahead of the Nov 8 midterm elections, where Mr Biden’s fellow Democrats’ control of Congress is n the line.
Reacting to the latest inflation figure, Mr Biden blamed Russian President Vladimir “Putin’s price hike” for most of the increases, saying in a statement: “We must do more – and quickly – to get prices down here in the United States.”
Diese Geschichte stammt aus der June 12, 2022-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der June 12, 2022-Ausgabe von The Straits Times.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
HARD-EARNED WIN FOR MAX
Verstappen pushes flat out’ to hold off Norris at Imola for fifth victory of season
FLYING NEMO THE VAMPIRE SLAYER
Pacific Vampire toothless at 3rd start, bubble burst by 281 shot
Generative Al falling short of promise to transform businesses
Enterprises underestimated what they needed, and overrated its business impact: Observers
China’s housing crash could set back millions of promising careers
HONG KONG - Ms Ivy Zhang figured she had it made.
Ever looked yourself up on a chatbot? Meta AI accused me of a workplace scandal
It has been more than a year since ChatGPT launched into the mainstream, but chatbots have not stopped lying.
600 among 25,000 who eraduated from polysabove age of 40
MOE hopes to see greater training participation in this age group after SkillsFuture top-up
Few early adopters seek repositioning of ERP 2.0 units to driver's footwell
Fleet operators say they have no plans to relocate units, citing absence of driver complaints
Plans to redevelop Bedok Stadium being studied
Public feedback invited with more diverse community, sport offerings on the agenda
Israeli opposition leader Gantz threatens to quit war Cabinet
He wants Netanyahu to offer plan to bring back hostages, end Hamas’ rule in Gaza
French forces act to take control of key road in New Caledonia
Territory has been convulsed by violence since May 13; factors include economic woes