Biden touts efforts to cool soaring inflation, says gas prices will fall 'before long'
White House pours more money into economy amid inflation concerns
Rep. Ashley Hinson, R-Iowa, provides insight into Biden’s Build Back Better plan.
President Biden on Tuesday outlined the steps his administration is taking to combat surging inflation ahead of the holiday season, saying the different actions will help ease supply-chain bottlenecks and reduce rising gas prices.
The government recently reported that consumer prices surged at the fastest pace in more than three decades in October – driven in part by a spike in fuel prices – putting fresh pressure on the Biden administration to address the inflation jump.
"Moms and dads are worried, asking will there be enough food we can afford to buy for the holidays, will we be able to get Christmas presents to the kids on time and if so, will they cost me an arm and a leg," Biden said in remarks from the White House on Tuesday.
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He pointed to the administration's plan to clear up backlogs at some of the nation's biggest ports, including establishing around-the-clock operations at the Port of Los Angeles and the Port of Long Beach. The president has also spoken with the CEOs of Wal-Mart, Target, UPS and FedEx about how to relieve supply-chain challenges as ships wait to dock at some of the biggest ports.