Per Bloomberg and CNN:
In an interview on 60Minutes, Biden was asked what he thought about the 8.2% inflation rate. After being told it was the highest in 40 years, the President highlighted the following:
- General prices have gone up but energy prices have gone down
- 10 million new jobs were created
- The unemployment rate reached historical lows at 3.7%
- Manufacturing is returning to the United States
During the interview, equities saw their worst day in over two years amidst fears that the Federal Reserve will accelerate its monetary tightening pace.
Biden also declared "the pandemic is over."