The Biden administration is bracing for inflation to continue its historic rise when the March Consumer Price Index is published Tuesday morning.
White House press secretary Jen Psaki told reporters in Monday's briefing that while"we are in a better place than we were last month," the administration expects"headline inflation to be extraordinarily elevated due to Putin's price hike."
Psaki noted that the previous CPI report did not factor in jumps in energy prices brought about by the war in Ukraine but stressed that the United States is in"a better place than we were last month." "We expect a large difference between core and headline inflation, reflecting the global disruptions in energy and food markets," she continued."Of course, we know that core inflation, energy, the impact of energy, of course, on oil prices, gas prices — we expect that to continue to reflect what we've seen the increases be over the course of this invasion."
Furthermore, Psaki used the opportunity to push Congress to pass the remainder of President Joe Biden's economic agenda and"reduce costs for the American people." "We have, of course, legislation that could do exactly that and cut the cost of childcare, of healthcare, of elder care," she stated."These all have enormous impacts on people's budgets, on when they're doing those calculations at their kitchen table, and certainly, this data will be a reminder of the need to do something and take additional steps."
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden admin, DOJ to announce final rule on 'ghost guns'The new rule essentially expands the definition of a 'firearm,' as established by the Gun Control Act, to cover 'buy build shoot' kits that people can buy online or from a firearm dealer and assemble themselves.
Read more »
President Biden to nominate new ATF director, release ghost gun ruleThe Biden administration will release the finalized version of its ghost gun rule, which comes as the White House and the Justice Department have been under growing pressure to crack down on gun deaths and violent crime in the U.S.
Read more »
Zelenskyy urges Biden for more aid as Ukraine braces for another Russian assaultUkraine’s fate as the war shifts south and east depends on whether the United States will help match a surge in Russian weaponry, Zelenskyy said.
Read more »
Obama, Biden reunite at White House to tout Obamacare, new provisionFormer President Barack Obama returned to the White House on Tuesday for the first time since leaving office in 2017 to tout the benefits of his signature healthcare law and bolster his friend and former governing partner, President Joe Biden.
Read more »
Biden to nominate new ATF director, release ghost gun ruleThe Biden administration will come out with its long-awaited ghost gun rule — aimed at reining in privately made firearms without serial numbers that are increasingly cropping up at crime scenes — as soon as Monday,
Read more »