“We’re going to live with this inflation for a while, it’s going to go down gradually but we’re going to live with it for a while,” President Biden told attendees at a fundraiser in Beverly Hills at the home of Israeli-American mogul Haim Saban, a major donor to the Democratic Party.
“There’s more than one way to deal with the impact of inflation on average families. We can lower the prices for other things,” Biden added.
Inflation in the US hit a new all-time high last month of 8.6%.
In his remarks earlier on Friday at the Port Los Angeles, Biden said, “America can tackle inflation from a position of strength.”
President Biden told Americans that he understands inflation is a “real challenge” and blamed the price increase on Russia.
“Today’s inflation report confirmed what Americans already know: Putin’s price hike is hitting America hard,” the President said.