Biden pushing lower prescription drug costs in midterm press
Biden will head to a community college in
Despite the president's efforts, inflation is rising, and
Consumer prices, excluding volatile food and energy costs, jumped 6.6% in September from a year ago — the fastest such pace in four decades. And on a month-to-month basis, such “core” prices soared 0.6% for a second straight time, defying expectations for a slowdown and signaling that the Fed’s multiple rate hikes have yet to ease inflation pressures. Core prices typically provide a clearer picture of underlying price trends.
Biden acknowledged the issue on Thursday, saying that “Americans are squeezed by the cost of living. It’s been true for years, and folks don’t need a report to tell them they’re being squeezed.”
He also returned to a metaphor he used often during his first year in office, talking about issues that Americans talk about around the “kitchen table," touting his administration's efforts to lower costs even as inflation rises.
“From prescription drugs, to health insurance, to energy bills, and so much more,” he said. “We’re standing up for working people and their right to get a raise and get a better job.”
The
Editorial l Insured losses from Hurricane Ian staggering
Social Security's COLA increase Is based on an outdated inflation measure
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News