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.”
This story is from the June 12, 2022 edition of The Straits Times.
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This story is from the June 12, 2022 edition of The Straits Times.
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