Biden said during the SOTU2022 that getting inflation under control is his “top priority,” while warning Russia’s invasion of Ukraine could lead to higher costs for American consumers.
President Biden presents a copy of his remarks before delivering his State of the Union address. Photo: Jabin Botsford/The Washington Post/Bloomberg via Getty Images
President Biden said Tuesday that getting inflation under control is his “top priority,” while warning Russia’s invasion of Ukraine could lead to higher costs for American consumers.The White House knows the country is frustrated with price hikes, but officials also want credit for strong GDP growth, job creation and low unemployment.
“Inflation is robbing them of the gains they might otherwise feel,” he added. “I get it. That’s why my top priority is getting prices under control.”Biden blamed surging prices on the speed of the economic recovery and disruption caused by COVID-19 and broken supply chains. His long-term solution to fighting costs rests largely on Congress passing parts of his Build Back Better agenda, which will lower costs for prescription drugs.“I have a better plan to fight inflation,” he said “Lower your costs, not your wages.”
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