Biden planning to tout economic agenda in State of the Union
foxbusiness.comFormer Kansas City Federal Reserve Bank President Thomas Hoenig reacts to Jerome Powell saying the Fed is not ready to start cutting rates on 'Cavuto: Coast to Coast.'
President Biden will deliver his third State of the Union address on Thursday night as he attempts to convince the American public he deserves another four years in office.
The high-profile speech comes amid growing discontent among many households about the state of the U.S. economy and the persistent pain of high inflation.
Still, the president plans to use his address to the nation to assuage those concerns by touting some of the positive economic outcomes realized over the past year. He will also lay out the work ahead still required to improve life for everyday Americans, a White House official told FOX Business.
Biden will touch on lowering costs and giving people more «breathing room» as his administration turns their attention to so-called «shrinkflation» – when companies reduce the package size and portions of their foods while also raising the price or holding it steady. The White House launched a new task force this week that is intended to take on «unfair and illegal» corporate pricing, which Biden has blamed for the frustratingly high price of groceries.
WHY ARE GROCERIES STILL SO EXPENSIVE?
President Biden speaks during a meeting with his Competition Council in the State Dining Room of the White House on March 5, 2024 in Washington, D.C. (Photo by Nathan Howard/Getty Images / Getty Images)
«As an ice cream lover, what makes me the most angry is that ice cream cartons have shrunk in size, but not in price,» Biden said during an ad about shrinkflation that ran during the Super Bowl in mid-February. «It’s a ripoff.»
BIDEN TO DELIVER STATE
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