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Biden Warns Prices Would Rise If Republicans Win the Midterm Elections

  • President touts top-line growth instead of core data in report
  • Top economic aide says key shelter cost numbers may be too old
Bloomberg business news
NEC's Deese: US in a Good Position to Address Inflation
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President Joe Biden warned prices would go up if voters punish him by handing Republicans control of Congress, after a politically damaging report showed core inflation rising to a 40-year high.

The inflation report on Thursday -- the last before November’s midterm elections -- quashed hopes that price growth was leveling off and delivered a fresh sign that it is more persistent than hoped.