Biden touts job growth amid stubborn inflation: ‘Moving in the right direction’

PResident Joe Biden Friday’s jobs update His economic plan works, even though it seems high-risk Inflation It’s not going anywhere.

Biden spoke at White House The economy added 311,000 jobs in February which could help to lead to the Federal Reserve to increase interest rates more aggressively.

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“Today’s numbers make it clear, our economy is moving in the right direction,” Biden said.

The 311,000 new jobs created last month are More than you expectedThis is another indication that Fed interest rate increases have not adversely affected the economy. The strong Labor market

The Neue figures The Bureau of Labor Statistics released Friday’s report that provides reassurance regarding the strength of the economy. The Unemployment As more people joined the labour force, the rate rose to 3.6%.

“Because of our economic plan, unemployment has been below 4% for 16 straight months,” Biden said. “The share of working-age folks who are in the labor force is higher than it has been at any time since 2008.”

The stronger jobs report shows however that central bank rate hikes are not having the punch they want. This could lead to the Fed leaning toward a more aggressive monetary policy at its meeting later in the month.

Republicans On Friday morning, they were quick to highlight this fact. A statement was released by the Republican National Committee stating that “workers are paying Biden’s inflation tax.”

“Even as inflation remains extremely high, wage growth slowed this month to the lowest levels seen in a year,” Tommy Pigott (RNC spokesperson) said that. “This comes after years of workers losing ground to inflation under Joe Biden. Indeed, inflation has forced the most Americans since the Great Recession into unsustainable debt.”

You can get credit card debt Reached An all-time record.

Biden and House Republicans also get the news Spare the debt ceilingBiden also mentioned this when he lashed out against the GOP.

“Now the biggest threat to our economy is the reckless talk from my MAGA friends — this is not your father’s Republican Party,” Biden said. “They’re threatening to default on our national debt. In fact, they’re planning to default, as some Republicans seem to be doing. It puts us very much