President Joe Biden issued a statement on Tuesday saying there was 'more work to do' amid reports showing that inflation is slowing but remains far too high.
President Joe Biden issued a statement on Tuesday saying there was"more work to do" amid reports showing that inflation is slowing but remains far too high.
The much-anticipated numbers from the consumer price index show that, while inflation remains elevated, it is cooling some in response to the Fed's aggressive interest rate hikes. Inflation had been running at 6.5% the month before. Inflation stood at 1.4% the month Biden took office, then rose steadily before peaking at 9.1% last June.
The Republican National Committee released its own statement saying inflation is Biden's fault and is hurting voters.
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