Biden says inflation help is coming but ‘will take time’

By CHRIS MEGERIAN and AAMER MADHANI
Associated Press

WASHINGTON (AP) — President Joe Biden is cautioning that “it’s going to take time” for inflation to recede. But he says that legislation he signed in August will soon help limit costs for health care and energy. He made the remarks Friday while meeting with business and labor leaders in his first public event since returning from a trip to Egypt and Asia. Biden was emboldened by Democrats’ stronger-than-expected performance in the midterm elections, but he could be entering a perilous stretch for the economy. The White House has emphasized a strong jobs market to try to allay concerns about a potential recession on the horizon. However, the Federal Reserve has also been raising interest rates to battle inflation by slowing growth.