Biden: US is making progress in the fight against inflation

US President Joe Biden delivered a statement following the February PCE report, highlighting the progress in the fight against inflation.

Key Quotes

We are making progress in the fight against inflation. Today’s report shows annual inflation down by nearly 30 percent from this summer, against a backdrop of low unemployment and steady growth.

The fight against inflation isn’t over, and every day my Administration is working to give families more breathing room.

In February we saw the lowest food inflation in nearly two years.

We should continue to invest in America from the middle out and the bottom up. This is not the time to turn back to trickle-down economics by cutting American manufacturing and other critical programs American families count on, just to pay for tax cuts for the wealthy, Big Pharma, and Big Oil.

The last thing our economy needs right now is the reckless threat of a chaotic default. Those threats must be taken off the table.