Former President Barack Obama said President Biden has fixed the economy while keeping unemployment low amid an 8.2% inflation rate.
Obama made the comments at a campaign event for Pennsylvania US Senate candidate John Fetterman on Saturday night in Philadelphia.
“Think about what Joe Biden has already accomplished. Despite historic pandemic he not only restored the economy and kept unemployment down, which by the way you shouldn’t take for granted because many people thought with a historic pandemic like this and the closure, that we could potentially go into a Great Depression, and we didn’t,” Obama said.
Obama also said that Biden “lowered the cost of health care and prescription drugs” and passed an infrastructure bill “that will put more people to work here in Pennsylvania and across the country and make our economy stronger.”
INFLATION RISE MORE THAN EXPECTED IN SEPTEMBER, as prices remained stubbornly high
“If you help the Democrats keep the House and pick up a few more seats in the Senate, you can guarantee that he will make more progress on the issues you care about,” Obama said.
Employers added 261,000 nonfarm jobs in October, which was more than expected, while the unemployment rate increased slightly to 3.7%, from 3.5% in September.
OCTOBER JOB REPORT STRONG, MAKING FED’S INFLATION HARDER
In January 2021, when Biden was appointed, the consumer price index, a measure of everyday items such as gas, groceries and rent, rose at a 1.4% annual rate.
In September, prices climbed 8.2% year-on-year.
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Compared to the same time last year, core prices, which exclude food and energy, rose 6.6%, the fastest rate since 1982.
Megan Henney of FOX Business contributed to this report.