This as the prices Americans pay for everyday goods and services rose in July, though well below June’s price spikes.
While pent-up consumer demand has unleashed demand for goods, dining and travel, Biden acknowledged structural issues are affecting prices. That includes supply chain backups at some ports and what he asserts is lack of competition in some food production.
And the president says he’s using his office to lower the impact on consumers.
Biden stated, “So I would argue the Biden economic plan is working, and historic investments are on the way as well. This isn’t accidental. it’s a result of our strategy to get shots in arms, grow the economy from the bottom up and the middle out, and it’s the rest of the, the result of the American Rescue Plan and everything else that we’ve done. And it’s a result of the grit and determination and really hard work of the American people.”
Job growth was strong in July and a major part of Biden’s agenda moved forward when the Senate passed the bipartisan infrastructure bill earlier this week. But now that bill must pass the House first before becoming law.
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