Biden Responds to Soaring Inflation, Orders Economic Council to ‘Reduce Energy Costs’Epoch Times, United States politics | The Epoch Times

Following a Department of Labor report suggesting that inflation hit a three-decade high in October, President Joe Biden released a statement that he directed the National Economic Council to reduce energy costs. “Today’s report shows an increase over last month. Inflation hurts Americans pocketbooks [sic], and reversing this trend is a top priority for me,” Biden said in a statement Wednesday. “The largest share of the increase in prices in this report is due to rising energy costs.” The president said he would direct the  National Economic Council to attempt to “further reduce these costs,” regarding energy prices. Furthermore, he asked the Federal Trade Commission to deal with “market manipulation or price gouging in this sector.” High inflation is eroding wage gains, adding to political risk Biden, whose approval rating has been falling as Americans grow more anxious about the economy, according to a number of recent polls. Broadening inflationary …Read More

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