8/10, 4:40 PM (Source: TeleTrader)
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Biden: Inflation may be moderating

United States President Joe Biden stated on Wednesday that the United States sees signs that "inflation may be moderating" as he assessed the latest inflation data.

Biden praised the core inflation figure compared to last week's employment data, emphasizing that despite expected headwinds, "the situation is improving," and the US "is moving in the right direction."

The president further mentioned that the Inflation Reduction Act must be passed as the most consequential thing Congress can do to maintain economic progress.

Baha Breaking News (BBN) / JG