"Biden Stands Firm on Economic Management Despite Rising Inflation"

President Biden defended his handling of the economy after a report showed a 3.5% increase in consumer prices over the past 12 months, with inflation continuing to be a challenge for his presidency. Despite his claims of progress in reducing inflation, a CNN poll indicates that a majority of Americans feel his policies have worsened economic conditions. Biden criticized Republicans for lacking a plan to address the issue, while also expressing confidence in a potential interest rate cut by the Federal Reserve, although the timing remains uncertain. The release of the inflation data led to a significant drop in US stocks.