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Consumer Price Index (CPI) statistics for January were better than expected as inflation rose month-on-month. Many eyes are on the Fed, as officials weigh inflation and economic conditions when considering future interest rate cuts.
National Economic Council Deputy Director Daniel Hornung joins Yahoo Finance to discuss recent CPI readings and how the White House intends to present these numbers and the current state of the economy to voters.
“If you ask people not just what they think about their financial situation, but what they think about the direction of the economy, as you point out, things are improving. The president signed the bill into law. When asked what people thought about the policies, Hornung said that the overwhelmingly popular outcome of President Biden’s economic policies was cutting costs, including lowering prescription drug costs, health insurance premiums and clean energy costs. “When you ask people about the president’s plan to raise taxes on big corporations and America’s wealthiest citizens to reduce the budget deficit, it’s very popular. So the main takeaway from this is I think the focus is to continue to go out into the country and make the case, telling the American people what the president has done. ”
For more expert insights and the latest market trends, click here to watch the full episode of Yahoo Finance Live.
Editor’s note: This article was written by Nicholas Jacobino
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