Biden to deliver remarks on inflation Tuesday, official says

President Joe Biden will deliver remarks on inflation Tuesday, a White House official said, as his administration looks to further address one of the key economic concerns for voters heading into November’s midterm elections.

“He’ll detail his plan to fight inflation and lower costs for working families, and contrast his approach with Congressional Republicans’ ultra-MAGA plan to raise taxes on 75 million American families and threaten to sunset programs like Social Security, Medicare, and Medicaid,” the official said in an email.

Biden, a Democrat who is suffering from low approval poll numbers ahead of the November midterm elections, has sharpened his rhetoric against Republicans in recent weeks, dismissing, for example, former President Donald Trump’s “Make America Great Again” MAGA movement as extreme.

On Tuesday Biden will lay out his plan to fight inflation and “contrast his approach with Congressional Republicans’ ultra-MAGA plan to raise taxes on 75 million American families and threaten to sunset programs like Social Security, Medicare, and Medicaid,” the official said.

Last week Biden took aim at Republican U.S. Senator Rick Scott’s economic plan, saying it would raise taxes on 75 million Americans, most of whom make less than $100,000 a year. Scott, who said he planned to cut taxes, is leading Republican efforts to get Republicans elected to the Senate.

Biden’s expected remarks were first reported by Axios.

Inflation rates have been increasing sharply since August 2021 and have been out of the normal 2%-to-4% range for a full year. The Consumer Price Index rose 8.5% for the year ending in March, a rate that hadn’t been seen since December of 1981.

“It’s our job to make sure that inflation of that unpleasant high nature doesn’t get entrenched in the economy,” Federal Reserve Chairman Jerome Powell said last week, just after he announced a half-point interest rate hike to combat inflation.

Still, Americans are struggling with rising costs everywhere from the grocery store to the gas pump. Keeping prices stable is part of the Fed’s mandate, but so far inflation has kept creeping higher, leading some to wonder if the central bank is behind the curve with its policy.

The GOP is already leveraging inflation to weaken Democrats heading into the midterm elections as it argues that Biden and congressional Democrats aggravated the problem with the injection of pandemic-related stimulus funds into the economy in 2021.

Biden, for his part, has repeatedly acknowledged the reality of rising inflation while still touting the strength of the US economy.

“Too many families are struggling to keep up with their bills,” the President said during his State of the Union address earlier this year, noting that soaring costs are keeping workers from reaping the benefits of the strong labor market and rising wages. “I get it. That’s why my top priority is getting prices under control.”-The-CNN-Wire 

We have always emphasized the importance of having a good website for your company because it can act as your best tool for marketing and sales. A poorly designed website can repulse people from your business and can cause you to lose customers before you even have them. Get in touch with HyperEffects to work on creating, enhancing, and making the website of your company more user-friendly.