The Washington Post: Inflation drops to lowest levels since March 2021 as economy cools

The Biden administration, which has faced an uphill battle convincing Americans that it has a handle on inflation, cheered the news. In recent weeks, the president has touted his “Bidenomics” plan as a way to rebuild the economy for the middle class. In a statement Wednesday, Biden said the new report showed “Bidenomics in action.”

The figures offer “new and encouraging evidence that the U.S. economy is on the path to moderate inflation accompanied by a resilient jobs market,” Lael Brainard, director of the National Economic Council, told the Economic Club of New York.

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