© Reuters. FILE PHOTO: U.S. President Joe Biden speaks about the economy and the January jobs report, during brief remarks in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, U.S., February 3, 2023. REUTERS/Kevin La
WASHINGTON (Reuters) – U.S. President Joe Biden hailed Tuesday’s inflation data as “good news for hard working families” and said there was more work to do to bring down the cost of living in the country, according to a statement released by the White House.
U.S. consumer prices barely rose in May and the annual increase in inflation was the smallest in more than two years, though underlying price pressures remained strong, supporting the view that the Federal Reserve would keep interest rates unchanged on Wednesday while adopting a hawkish posture.
Source: Investing.com
