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Biden: Inflation Is Down While Growth And Jobs Remain Strong

US

US President Joe Biden has issued a statement on today's CPI print, touting a "two-thirds" decrease in inflation from its peak, and warning that "extreme Republicans" have "no plan to lower costs for families."

  • Biden: "Today’s report shows that we ended 2023 with inflation down nearly two-thirds from its peak and core inflation at its lowest level since May 2021."
  • Biden: "Despite what many forecasters were predicting a year ago, inflation is down while growth and the job market have remained strong. The economy has created more than 14 million jobs since I took office, and wealth, wages, and employment are higher now than under my predecessor."
  • Biden: "Make no mistake: extreme Republicans have no plan to lower costs for families—none... And they still haven’t given up their fight to cut Social Security, Medicare, and Medicaid. I will not let them."
  • Biden's chief economic advisor, Lael Brainard, is scheduled tobrief reporters at the White House at 13:00 ET 18:00 GMT.
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