PoliticsEconomy / Finance

Biden Responds to Soaring Inflation, Orders Economic Council to ‘Reduce Energy Costs’

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Joe Biden says he’s directed the National Economic Council to focus on reducing energy costs for U.S. consumers following a Department of Labor report suggesting that inflation hit a three-decade high in October. “Today’s report shows an increase over last month. Inflation hurts Americans pocketbooks [sic], and reversing this trend is a top priority for me,” Biden said in a statement on Nov. 10. “The largest share of the increase in prices in this report is due to rising energy costs.” Biden said he directed his top economic aides to attempt to “further reduce these costs,” regarding energy prices. He…

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