Biden Commerce Chief Sees Inflation Easing as Supply Crisis Ebbs
- Price increases fueled by pandemic disruptions, Raimondo says
- ‘Things are going to get better,’ Commerce secretary says
This article is for subscribers only.
President Joe Biden’s administration remains “quite confident” that the fastest inflation in decades will be short-lived and abate once pandemic-fueled supply-chain and labor-market disruptions ease, according to one of his top economic officials.
The rising cost of living is a problem affecting Americans in their daily lives, particularly around the holidays as they pay higher prices for Thanksgiving turkeys and Christmas trees, and Biden understands the impact, Commerce Secretary Gina Raimondo said in an interview Thursday.