As inflation continues to rise, Biden promotes promises to decrease prices

As inflation continues to rise, Biden promotes promises to decrease prices

According to him, the president is focused on strengthening competitiveness, citing difficulties that have been a problem for decadesPresident Biden discusses reducing prices for working families as inflation affects all Americans.

President Obama meets with officials of his administration to discuss cost-cutting measures for working families.

President Biden met with White House officials on Monday to discuss the administration's strategy for combatting rising costs, as inflation in the United States continues to grow to levels not seen in more than 40 years.

On January 24, 2022, US President Joe Biden meets with officials of his administration in the East Room of the White House in Washington, D.C., to discuss initiatives to cut prices for working families. 

The president went on to mention directives issued by federal agencies as a result of the executive action, such as removing restrictions on where people can get electronics like smartphones repaired, allowing people to buy hearing aids without a prescription, and addressing non-compete clauses, which prevent workers from taking jobs from a competitor's employer within a specific period.

Biden went on to say that he wants to take action in the beef market, where prices have been rising at an alarming rate for several months. "More protections for farmers and ranchers," the president has promised.

He went on to say that "Big Ag," "Big Tech," and "Big Pharma" were "devouring competitors" rather than "competing for customers," and that he would target them in future antitrust actions.

In recent months, the White House has pushed Congress to pass its now-stalled multi-trillion-dollar Build Back Better proposal, arguing that the plan's cap on child care costs and other family-friendly programs will alleviate most of the country's inflation woes.

However, after moderate West Virginia Democrat Sen. Joe Manchin baulked at the price tag in the 50-50 Senate on concerns that further significant spending would produce higher inflation, Biden admitted last week that the bill would likely have to be divided up to get his plan passed.

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