President Joe Biden condemned grocery stores for high prices, accusing them of taking advantage of people during a period of persisting inflation. He pledged to continue applying pressure on corporations to lower prices. This stance provoked anger and anxiety among Americans who are grappling with the escalating cost of groceries, straining their budgets. In response, the Federal Reserve opted to maintain interest rates, recognizing the necessity of a more stable reduction in inflation before contemplating any rate adjustments. Since the beginning of 2021, food prices have witnessed a significant surge, resulting in increased monthly expenses for individuals. President Biden remains an advocate for his economic policies, commonly referred to as "Bidenomics," and highlights December's economic figures as a positive indication of progress made.

The Digest, 2/2/2024 @1200AM, CDT

Loading...