Economics
Biden Celebration of Economy Skips Inflation That Haunts It
- Republicans hammer Biden as inflation runs hot into midterms
- President focuses speech on climate change, drug companies
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President Joe Biden ignored worse-than-expected US inflation data that roiled markets during a planned celebration for his signature climate-and-tax law.
The law Biden celebrated Tuesday is called the Inflation Reduction Act, and the White House has repeatedly said tackling inflation -- a political liability for Democrats before the November midterms -- is the president’s top priority. But after the Labor Department reported, hours before the event on the South Lawn of the White House, that price growth accelerated from July to August, Biden largely focused elsewhere in his remarks: curbing climate change, defeating the drug lobby, his Republican opposition, even guns.