Biden to tout inflation-control efforts, release of oil reserves

WASHINGTON (Reuters) – U.S. President Joe Biden on Tuesday is expected to highlight his administration’s efforts to tackle rising inflation as the White House increasingly links historic price hikes to companies pocketing handsome profits. Biden’s administration along with the Federal Reserve had largely described sharp spikes in inflation earlier this year as transitory, but pressure for action has grown as the price surges have continued into the fall. The Labor Department’s Bureau of Labor Statistics reported earlier this month that U.S. consumer prices in October posted their biggest annua…

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