Home News The White House is developing a plan to combat record inflation

The White House is developing a plan to combat record inflation

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Source: White House/via Globallookpress.com
Source: White House/via Globallookpress.com

Washington, 19 June. The White House is developing a plan to combat record inflation in the United States. This was reported by Bloomberg.

Among the measures being discussed are increased investment in clean energy and fossil fuel extraction, according to media reports. It is also planned to introduce a cap on the rise in prices for insulin, a key medicine for diabetics.

A number of Bloomberg sources note that an agreement could be reached as early as next week, while some believe that this may take longer. A number of aspects continue to cause controversy among congressmen. In particular, we are talking about provisions related to the fight against climate change. The senator plays a key role in the adoption of the new plan Joe Manchin from West Virginia.

President of the U.S.A Joe Biden previously hinted at future changes, including drug prices.

“I believe I have the voices to do a number of things. We can reduce the cost of insulin and we will achieve it,” Biden said in an interview with The Associated Press.

In the material Bloomberg notes that the Democratic Party is “desperately” looking for ways to deal with record inflation. If prices continue to rise, this could congressmen control of the House of Representatives, the Senate, or both houses in the upcoming midterm elections in November.

As of June 10, inflation in the US rose by 8.6%, reaching a new 40-year high. The numbers beat forecasts and underlined a broad rise in prices for everything from groceries and fuel to services and utility bills. Against this background, President Joe Biden’s approval rating dropped to 36%. The leader of the United States explains the increase in prices by the actions of Moscow and the “retribution” for helping Ukraine. Earlier, American media reported that Biden plans to shift the problem with inflation in the United States to the Federal Reserve System (Fed).

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