LIVE: Biden to Deliver Remarks on Economy as Inflation Hits 40-Year High
June 10, 2022
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19:00Now PlayingLIVE: Biden to Deliver Remarks on Economy as Inflation Hits 40-Year High
YouTube Description
as posted by the channel(Jun. 10) US inflation accelerated to a fresh 40-year high in May, indicating price pressures are becoming entrenched in the economy and shattering consumer confidence.
The latest government inflation figures will likely push the Federal Reserve to extend an aggressive series of interest-rate hikes into the fall. For President Joe Biden and congressional Democrats, the data were a one-two punch as a separate report showed consumer sentiment plunged in early June to the lowest in data back to 1978.
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