President Joe Biden He said Wednesday that it will be “a priority” to reverse the inflationary trend that brought US consumer prices to a 30-year high in October.
“Inflation hurts the pockets of Americans, and reversing this trend is a top priority for me,” Biden said after government data revealed that prices rose sharply to 6.2% in the last 12 months to October.
Prices rose throughout this year as vaccines against Covid-19 They allowed the US economy to recover from last year’s recession, giving Biden’s opponents an argument against spending bills vital to his administration.
Biden scored a victory last week when Congress passed a $ 1.2 trillion infrastructure bill, but the fate of another $ 1.75 trillion bill aimed at improving a host of social services and fighting climate change remains. blocked in Congress.
Following the release of the Labor Department consumer price index data, Democratic Senator Joe Manchin – one of those who objected to the cost of the social project – tweeted: “By all indications, the threat posed by inflation record for the American people is not “transitory”; on the contrary, it is getting worse. “
Biden travels to Baltimore on Wednesday to promote the benefits of the infrastructure law, at a time when it has low approval ratings, raising fears that his Democratic Party will lose the slim majority it has in the midterm elections next year. in Congress.
Reference-www.eleconomista.com.mx