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Econ Adviser-'Wouldn't Say Inf. Has Peaked, But Trend Positive'

WHITE HOUSE

Wires carrying comments from Jared Bernstein, a member of the White House's Council of Economic Advisers. Bernstein states that, "I wouldn't say that inflation has peaked, but the trend is positive".

  • Says that he believes the US economy 'can avoid a recession'.
  • Work to combat inflation remains a key objective for the Biden administration according to the White House. Press office reported that at the G20 summit in Bali, Indonesia, President Biden discussed “the importance of securing sustainable & affordable energy supplies” when in conversation with new UK PM Rishi Sunak.
  • Opinion polling shows a notable improvement in respondent's views on Biden's handling of the inflation issue. Although the overall approval ratings on inflation are still negative, they have improved markedly in recent weeks and months as gas prices have fallen.
  • In June, the average net approval for how the administration is dealing with inflation stood at -45. By October, this had improved to an average of -25.4.
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Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

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