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President Joe Biden’s inflation problems have become a lot worse as the annualized U.S. rate of inflation rose to 9.1 percent in June, according to new figures released by the Bureau of Labor Statistics early on Wednesday.
That represents “the largest 12-month increase since the period ending November 1981,” according to BLS.
That rate is well ahead of the Federal Reserve’s annual 2 percent target for inflation and will add to the belief that the Fed will raise interest rates again at its monthly meeting later in July.
Read more at Newsweek.com
