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Market News

White House says it is focused on curbing inflation

WASHINGTON, Oct 12 (Reuters) - The Biden administration is focused on preventing inflation from being an issue in the future, White House press secretary Jen Psaki said on Tuesday.

The surge in demand as the U.S. economy reopened has caused a spike in inflation with persistent supply bottlenecks set to keep price increases well above the Federal Reserve’s 2% average inflation goal through the end of the year and into 2022. (Reporting by Trevor Hunnicutt Editing by Chris Reese)

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