“Inflation hurts the pockets of Americans, and reversing this trend is a top priority for me,” said the president.
According to analysts, prices increased throughout the year in accordance with the recovery obtained by the advancement of vaccination against the Covid-19 coronavirus in the population.
Factory closures due to restrictions, port congestion due to truck drivers’ protests, and high demand for imported products were also factors that considerably increased the cost of selling food, furniture, cars and fuel.
From the Biden Government and the Federal Reserve (Fed) they insist that the trend is “temporary” and that in the coming months contrary percentages will begin to be observed.
“The threat of record inflation to the American people is not ‘transitory’ and, on the contrary, it is getting worse,” said Senator Joe Manchin of the Biden Democratic Party.
“From the grocery store to the gas station, Americans know that inflation is real and (Washington) DC can no longer ignore the economic pain that Americans feel every day,” he added.
Republican members of the House Committee on Commerce and Energy said the United States faces “Bidenflation.”
“Spending billions more on taxes and spending will only worsen the crisis Americans face,” they tweeted.
Source From: Ambito
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