Biden Responds to Soaring Inflation, Orders Economic Council to 'Reduce Energy Costs'
November 10, 2021
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It's simple: Just get more guys on the job guys
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"Today's report shows an increase over last month. Inflation hurts Americans pocketbooks [sic], and reversing this trend is a top priority for me," Biden said. "The largest share of the increase in prices in this report is due to rising energy costs."
The president said he directed his top economic aides to attempt to "further reduce these costs," regarding energy prices. He also asked the Federal Trade Commission to deal with "market manipulation or price gouging in this sector." High inflation is eroding wage gains, adding to the political risk facing Biden, whose approval rating has been falling, according to a number of recent polls, as Americans grow more anxious about the economy. The Federal Reserve and White House have maintained that inflation will abate as supply chain bottlenecks are fixed... 111 such ships are now sitting outside the ports of Los Angeles and Long Beach.
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Biden's answer to shutting down pipelines was to turn to OPEC to increase supplies
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"Risks are clearly shifting toward U.S. inflation remaining elevated longer than previously thought, but that doesn't mean that it's permanent," ... a senior economist at Moody's Analytics... "The Fed could face a situation where higher consumer prices begin to weigh on consumer spending, reducing GDP growth." Later in his statement,
Biden urged Congress to approve his "Build Back Better" agenda, coming after the House approved a Senate-passed $1.2 trillion infrastructure bill last week. A larger, $1.75 trillion social spending package is being debated in Congress. "By all accounts, the threat posed by record inflation to the American people is not 'transitory' and is instead getting worse,"
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Biden's answer to inflation is to inflate the money supply so Americans don't have to go to work and wear masks
Manchin wrote.
"From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day." The Congressional Budget Office on Nov. 9 released a statement saying lawmakers will have to wait longer for a full score on the social spending bill. The consumer price index jumped 0.9 percent last month after climbing 0.4 percent in September... That was the biggest year-on-year rise since November 1990 and followed a 5.4 percent advance in September...
Biden Responds to Soaring Inflation, Orders Economic Council to 'Reduce Energy Costs' (https://www.theepochtimes.com/mkt_breakingnews/biden-responds-to-soaring-inflation-orders-economic-council-to-reduce-energy-costs_4097612.html)
https://www.theepochtimes.com/mkt_breakingnews/biden-responds-to-soaring-inflation-orders-economic-council-to-reduce-energy-costs_4097612.html