Administration of Joseph R. Biden, Jr., 2023

October 12, 2023

This morning's report shows core inflation fell to its lowest level in 2 years. Overall inflation is down by 60 percent from its peak at a time when unemployment has remained below 4 percent for 20 months in a row and the share of working-age Americans in the workforce is the highest in 20 years. That's Bidenomics in action. I'll continue to fight to build an economy from the middle out and bottom up, even as Republicans in Congress make reckless threats to weaken our economy, prioritize tax cuts for the wealthy and large corporations, and push for deep cuts to programs that are essential for hard-working Americans and seniors.

Categories: Statements by the President : Consumer price index data, Bureau of Labor Statistics report for September.

Subjects: Bureau of Labor Statistics; Consumer price index; Economic improvement; Inflation; Tax Code reform; Unemployment rate.

DCPD Number: DCPD202300895.

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