Biden Says ‘Pandemic Is Over’ and Inflation Will Be Controlled
President outlines rosy view of US economy ahead of midterms
Biden says he’s hopeful for ‘soft landing’ as Fed raises rates

ByAlex Wayne
September 18, 2022

President Joe Biden declared the Covid-19 pandemic “over” and said Americans would gain “control” of inflation, outlining a rosy view for the US economy in an interview less than two months before crucial midterm elections.

Biden said in the interview with CBS’s “60 Minutes” for broadcast on Sunday that he hopes the economy can achieve a so-called “soft landing” as the Federal Reserve raises interest rates to cool price increases.

“I’m telling the American people that we’re gonna get control of inflation,” Biden said when asked whether inflation measured by the consumer price index would continue to decline. The CPI rose 8.3% in August compared to the same month last year, a larger increase than forecast.

“Their prescription drug prices are gonna be a hell of a lot lower,” he added, according to the transcript of the interview. “Their health care costs are gonna be a lot lower. Their basic costs for everybody, their energy prices are gonna be lower. They’re gonna be in a situation where they begin to gain control again. I’m more optimistic than I’ve been in a long time.”

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