Consensus Eludes Biden Team Weighing Fuel Price Action for Weeks
- Some officials push for action, others a wait-and-see approach
- Consensus has yet to emerge as climate talks enter final stage
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One hour after U.S. government data showed on Wednesday that American inflation had soared to a 31-year high, President Joe Biden vowed to fight the surge as “a top priority.”
Key to his administration’s response, Biden said in a statement, would be addressing the rising cost of energy -- what he described as “the largest share of the increase in prices.” He promised his National Economic Council would explore how to reduce prices.