Biden Plan to Talk Up Economy Slams Into Inflation Reality
- New Labor Department data shows inflation higher than expected
- Republicans hammer Democrats over prices for food, housing
President Joe Biden speaks at the groundbreaking ceremony of a new Intel semiconductor plant near New Albany, Ohio, on Sept. 9.
Photographer: Gaelen Morse/BloombergThis article is for subscribers only.
President Joe Biden’s bid to use a spate of positive economic news to turn Democrats’ biggest political liability into an election-year selling point suffered a setback with another worse-than-expected inflation report.
Falling gas prices and two major legislative victories have boosted Democrats’ once improbable bid to retain their House and Senate majorities in the November midterms. So had early signals that red-hot inflation may be easing.