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U.S. economy roars, while inflation soars

Published

2 years ago

October 28, 2022

ticker NEWS

The U.S. economy is beginning to rebound, but inflation is still crippling the American people

The U.S. economy is roaring back to life, after six months of steady declines.

While GDP is also rising, inflation continues to plague American households.

Increased exports are driving the rise. But weak global demand is limiting growth in some areas.

For months, doomsayers have been arguing that the US economy is in a recession and Congressional Republicans have been rooting for a downturn.

But with today’s Third Quarter GDP Report, we got further evidence that our economic recovery is continuing to power forward.
— President Biden (@POTUS) October 27, 2022

It comes as President Joe Biden says he will crack down on so-called ‘junk fees’ as a way of bringing down soaring inflation.

As part of this, the Financial Protection Bureau is seeking to eliminate billions in banking fees.

FILE PHOTO: U.S. economy President-elect Joe Biden’s mind as he announces members of economics and jobs team at his transition headquarters in Wilmington, Delaware, U.S., January 8, 2021. REUTERS/Kevin Lamarque/File Photo

They’re also removing hidden charges and extra fees on a range of services like airline and hotel bookings.

Because of my economic plan, Micron is investing $100 billion over the next 20 years to build American semiconductor factories.

It’s the largest investment of its kind. Ever.
— President Biden (@POTUS) October 27, 2022

Despite this, the White House says there is still plenty of work to do on the U.S. economy.

Related Topics:america biden Politics trending

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