Biden Celebrates Cooling Inflation and Blasts Trump’s Harmful Tariffs: A Bold Move for America’s Economy
President Joe Biden highlighted a promising economic sign during his solo press conference in Washington on Thursday, pointing to a new inflation report. “Just this morning, we had a great economic report showing inflation is down,” Biden announced. According to the U.S. Department of Labor, the consumer price index fell by 0.1% in June from May, marking the first monthly decline in over four years. The president noted that core inflation is at its lowest in three years, with significant price reductions in cars, appliances, airfare, and groceries since the beginning of the year.
Biden emphasized ongoing efforts to combat corporate greed and further reduce prices, contrasting his approach with former President Donald Trump’s proposed economic policy. Trump’s idea of a 10% tariff on all U.S. imports, Biden argued, would add $2,500 in costs to the average American working family annually, according to economists.
The press conference marked a critical moment for Biden amidst speculation about his potential withdrawal from the 2024 race, following his performance in the first debate against Trump.
Original Story https://www.cnbc.com/2024/07/11/biden-touts-cooling-inflation-slams-trump-tariffs-at-press-conference.html
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