Financial TimesFinancial Times

Biden’s White House scrambles to tame soaring US inflation

By James Politi and Colby Smith

11 Nov 2021 · 4 min read

Joe Biden’s White House is scrambling to tame soaring inflation as rising prices threaten to undercut the US economic recovery, jeopardise his spending plans and doom the Democratic party’s chances in next year’s midterm elections.

The fight against inflation marks a big shift in economic strategy for Biden compared with his early months in office, when the administration’s main goal was to revive the pandemic-hit US economy with a jolt in demand through fiscal stimulus.

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