President Joe Biden on Tuesday said his administration is taking action to lower energy costs and bring down inflation rates that are the highest in decades by clearing supply chain bottlenecks and reigning in corporate greed, but warned against handing the reins of power to a Republican Party more interested in protecting corporate profits than American families.
Mr Biden opened his remarks by laying out what he described as the two major causes of the inflation that has reached levels not seen since the early 1980s: The Covid-19 pandemic and Russia’s unprovoked invasion of Ukraine. He added that inflation was a “global challenge” but tackling it was now his “top domestic priority”.
