TELETRADER News
3/31, 4:18 PM
(Source: TeleTrader)
Biden: Making progress in fight against inflation
United States President Joe Biden commented on Friday on the latest personal consumption expenditures (PCE) report, which also showed that the PCE price index rose by 0.3% in February, less than expected. "We are making progress in the fight against inflation," he said but warned that the fight "isn’t over, and every day my Administration is working to give families more breathing room."
Biden added that "the last thing our economy needs right now is the reckless threat of a chaotic default" and vowed to continue investing "from the middle out and the bottom up." He said the US should not cut critical social programs and domestic manufacturing "just to pay for tax cuts for the wealthy, Big Pharma, and Big Oil."