President Joe Biden acknowledged Thursday that the United States had “more work to do” to wrestle inflation down from current record highs, after government data showed a larger-than-expected jump in prices last month.
Biden touted “some progress in the fight” but admitted that “prices are still too high,” in a statement following the disappointing consumer inflation report that sets the stage for more aggressive Federal Reserve rate hikes.
“We have more work to do,” Biden said.
