THE WHITE HOUSE.
>> ACTUALLY I JUST WANT TO SAY A
NUMBER.
ZERO.
TODAY WE RECEIVED NEWS THAT THE
ECONOMY HAS 0% INFLATION IN THE
MONTH OF JULY.
0%.
HERE’S WHAT THAT MEANS.
WHILE THE PRICE OF SOME THINGS
WEPT UP LAST MONTH THE PRICE OF
OTHER THINGS WENT DOWN.
THE RESULT IS 0% INFLATION.
BUT PEOPLE ARE STILL HURTING.
ZERO INFLATION LAST MONTH.
ECONOMISTS LOOK AT INFLATION
THAT IGNORES FOOD AND ENERGY
PRICES AND CALL IT CORE
INFLATION.
LOWEST IN SEVERAL MONTHS.
WHEN YOU COUPLE THAT WITH THE
BOOMING JOBS REPORT, 3.5%
UNEMPLOYMENT, IT UNDERSCORES THE
ECONOMY WE HAVE BEEN BUILDING.
WE SEE A STRONGER LABOR MARKET
WHERE AMERICANS ARE WORKING AND
SEEING SOME SIGNS THAT INFLATION
MAY BE BEGINNING TO MODERATE.
THAT’S WHAT HAPPENS.
THE WEALTHY DO VERY WELL AND
EVERYONE HAS A CHANCE.
I WANT TO BE CLEAR.
WITH THE GLOBAL CHALLENGES WE
FACE FROM THE WAR IN EUROPE TO
DISRUPTION OF SUPPLY CHAINS WE
COULD FACE ADDITIONAL HEADWINDS.
OUR WORK IS FAR FROM OVER.
FIRST THE ECONOMIC PLAN IS
WORKING AND SECOND BUILDING AN
ECONOMY THAT WILL REWARD WORK.
WAGES ARE UP THIS MONTH.
PROVIDE OPPORTUNITY.
HELP THE MIDDLE CLASS AND STILL
HAVE WORK TO DO BUT WE ARE ON
TRACK.
THE SECOND POINT IS WE NEED TO
PASS THE INFLATION REDUCTION ACT
RIGHT AWAY.
THAT’S THE MOST CONSEQUENTIAL
THING THE CONGRESS CAN DO TO
KEEP THE PROGRESS ON INFLATION
FROM GETTING WORSE.
KEEP IT MOVING IN THE RIGHT
DIRECTION.
IT WILL BRING DOWN THE COST OF
PRESCRIPTION DRUGS AND ENERGY
COSTS.
MAKING BIG CORPORATIONS PAY THE
FAIR SHARE.
WHICH CAN REDUCE THE DEFICIT
WITHOUT RAISING A PENNY IN TAXES
ON PEOPLE MAKING LESS THAN
$400,000 A YEAR.