WorldJoe Biden says inflation in the U.S. might last...

Joe Biden says inflation in the U.S. might last a while

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“We’re going to live with this inflation for a while. It will go down gradually but we’re going to live with it for a while” Joe Biden said at a fund raiser in Beverly Hills.

The U.S. Administration and many economists initially thought that the inflation pressure will be here and there and it will get better once things will get back on track after the COVID-19 pandemic.

The pressure on prices extended to goods and services world wide because the Russia invasion in Ukraine has reduced oil and food reserves on an already troubled market.

The inflation in the United States has is now the at the highest point of the last 40 years at 8.6%, gas prices being at an all time high while the cost of food has also increased.

Inflation has become a political problem for the Joe Biden administration while trying to introduce multiple measures to cut down prices but it appears that much of the responsibility to control the inflation falls down on the Federal Reserve.

Joe Biden visited the Los Angeles marina on Friday, where he tried to solve the problem of the cargo blockage and accused the oil industry in the United States of trying to profit from the supply deficit.

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