The sobering numbers, caused by high energy prices, will be top of the agenda as President Biden tours the Middle East
Another searing inflation report yesterday underscored the deep challenges facing Democrats ahead of this year’s critical midterm elections, with widespread pessimism about the state of the US economy and Joe Biden’s stewardship of it.
Inflation soared 9.1% in June compared with the previous year, a new 40-year high. The rising cost of gas, fuel and rent squeezes American households and puts pressure on the Federal Reserve to raise interest rates further.