President Joe Biden, under pressure to tame high inflation, sought to assure Americans on Tuesday that he understands what they are grappling with and that the Federal Reserve is working to resolve the top issue weighing on his administration.
At the same time, the Democrat went on the offensive, attacking the Republican agenda.
He slammed what he called “the ultra-MAGA plan put forward by congressional Republicans to raise taxes on working families, lower the income of American workers, threaten the sacred programs Americans count on like Social Security, Medicare and Medicaid, and give break after break to big corporations and billionaires just like they did the last time they were in power.”
With a spike in inflation having pushed annual consumer prices more than 8% higher, the president highlighted his release of oil from strategic petroleum reserves and pressure on companies to return record-high profits to consumers in the form of lower prices.
Biden is asked why his admin hasn't asked Americans to drive less, and finishes his reply by blaming "ultra-MAGA Republicans." pic.twitter.com/Lgk9I9gK1G— The Post Millennial (@TPostMillennial) May 10, 2022
“I know that families all across America are hurting because of inflation,” Biden said in a speech from the White House. “I want every American to know that I am taking inflation very seriously and it is my top domestic priority.”
Biden said the COVID-19 pandemic, coupled with supply chain issues and Russia’s war on Ukraine, are to blame for the inflation spike, but that the Fed should, and will do its job to control it. The U.S. central bank raised interest rates by half a percentage point last week and is expected to roll out additional hikes this year.
The president did not announce new policy measures in the speech, which occurred a day before new consumer price data is expected to show inflation remained elevated through April.
Biden and top officials said multiple times as prices rose in 2021 that they expected inflation to be temporary, but it has persisted. Continue reading at Newsmax.
Biden attempts to shirk responsibility and blame inflation on the pandemic and Putin. No one is buying it because we all know that everything went to hell the moment he got into office. #Bidenflation pic.twitter.com/cl2jBzktKL— Thought Criminal (@Craftmastah) May 10, 2022