The troubled US president insisted tackling inflation was a “top priority” after the consumer price index hit 6.2% in the year to October, its sharpest rise since. 1990. This was a significantly greater increase than the 5.4% recorded in September, and was higher than economists expected.
It is likely to raise concerns that US price hikes will be followed by a similar wave across the globe, triggering a global squeeze on living standards.
After the data was released, Biden said he tasked the White House National Economic Council with finding a way to reduce the surge in energy costs.
To allow people to build pipelines, fracks on federal land, all that stuff. Not that this helps immediately but over time … ..