Biden outlines plan to tackle surging inflation in State of Union address
WASHINGTON: US President Joe Biden on Tuesday night outlined a plan to tackle the persistently high inflation in his first State of the Union address, touting the administration’s economic achievements and pushing his economic agenda.
Noting that his top priority was getting prices under control, the U.S. president laid out a four-point plan: making more products in America, reducing everyday costs, promoting fair competition to lower prices and eliminating barriers to good-paying jobs for workers.
“With all the bright spots in our economy, record job growth and higher wages, too many families are struggling to keep up with the bills,” Biden said in his speech to a joint session of Congress. “Inflation is robbing them of the gains they might otherwise feel.”
The president’s remarks came as stubbornly high inflation in the country is eroding businesses’ profit margins and households’ purchasing power, casting shadow over growth prospects.