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Economics

Biden Sees Signs Inflation Moderating After Promising July Data

Joe Biden
Joe BidenPhotographer: Al Drago/Bloomberg

President Joe Biden said there are signs inflation is beginning to moderate after it slowed more than expected in July, giving him a much-needed boost ahead of the November midterm elections.

“We’re seeing a stronger labor market where jobs are booming and Americans are working and we’re seeing some signs that inflation may be beginning to moderate,” Biden said Wednesday before signing a veterans health-care bill, calling the numbers evidence his “economic plan is working.”