US inflation may last for some time, says Joe Biden

Joe Biden warned on Friday that U.S. inflation could last "for a while" after data showed that politically sensitive prices have unexpectedly risen in recent weeks. As Biden said at a Democratic fundraising event in Beverly Hills, "We're gonna live with this inflation for a while." As he remarked at an event hosted by billionaire media tycoon Haim Saban, "it's gonna come down gradually, but we're gonna live with it for a while." The wary remarks come as Biden's fellow Democrats' control of Congress is on the line in the Oct. 2 midterm elections. At first, the administration and many professional economists thought inflation pressures would be "transitory," easing as the recovery from COVID-19 continued. While price pressures have only expanded to additional goods and services globally, the invasion of Ukraine has taken oil and food supplies off an already stretched global market. Labor Department data showed that consumer inflation hit a 40-year high of 8.6% in the 12 months through May, with gasoline marking a record high and food costs soaring.

Видео US inflation may last for some time, says Joe Biden канала Free News