Crude Inventory Data Shows Surprise Build of 8.5 Million Barrels Last Week

While it is heartening to see that annual inflation moderated in April, the fact remains that inflation is unacceptably high. As I said yesterday, inflation is a challenge for families across the country and bringing it down is my top economic priority. This starts with the Federal Reserve, which plays a primary role in fighting inflation in our country. I thank the Senate for confirming Dr. Lisa Cook to the Board of Governors last night, and urge the Senate to confirm my remaining nominees without delay. While I will never interfere with the Fed’s independence, I believe we have built a strong economy and a strong labor market, and I agree with what Chairman Powell said last week that the number one threat to that strength – is inflation. I am confident the Fed will do its job with that in mind. Beyond the Fed, my inflation plan is focused on lowering the costs that families face and lowering tweet at 10:11am: US Pres. Biden: Confident Fed Will Do Its Job On Inflation – Inflation Still ‘Unacceptably High’