(Bloomberg) — President Joe Biden mentioned he’s directed his prime financial aides to concentrate on decreasing vitality costs, which he blamed for accelerating U.S. inflation.
“Inflation hurts People pocketbooks, and reversing this pattern is a prime precedence for me,” Biden mentioned in an announcement after the buyer value index rose in October on the quickest annual tempo since 1990.
“The biggest share of the rise in costs on this report is because of rising vitality prices,” Biden mentioned, although he famous that costs have fallen since knowledge for the October report have been collected.
“I’ve directed my Nationwide Financial Council to pursue means to attempt to additional scale back these prices, and have requested the Federal Commerce Fee to strike again at any market manipulation or value gouging on this sector.”
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