Wrestling the hottest inflation in decades under control is still the No. 1 focus of the Biden administration, according to Treasury Secretary Janet Yellen.
Janet Yellen, pictured here holding a news conference in the Cash Room at the U.S. Treasury Department in Washington, U.S. July 28, 2022.in the economy remain strong, core prices – which strip out the more volatile measurements of food and energy – climbed 0.6% in September from the previous month. From the same time last year, core prices jumped 6.6%, the fastest since 1982.
"Bringing down elevated inflation remains President Biden’s top economic priority, even as we know the Federal Reserve plays the primary role in maintaining stable prices," Yellen said. People shop for produce at a store in Rosemead, California on June 28, 2022. - Americans' feelings about the economy slumped further in June after falling sharply the month before amid concerns over skyrocketing inflation, according to a survey releaThe data all but ensured that the U.S. central bank will approve another 75-basis-point interest rate hike – the fourth of its kind – when it next meets Nov. 1-2.
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