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White House Pressured by 40-Year High Inflation

14 January 2022 00:06

The White House sought to tamp down concerns from the American public with Wednesday's report that inflation jumped at its fastest pace in nearly 40 years last month, a 7% spike from a year earlier that is increasing household expenses, eating into wage gains and heaping pressure on President Joe Biden and the Federal Reserve to address what has become the biggest threat to the US economy.