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Free AccessBiden: Inflation Is Down While Growth And Jobs Remain Strong
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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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.