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Biden speaking on economic recovery amid the pandemic

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the largest inflation spike since 2008, evidence that a swift rebound in spending has run up against widespread supply shortages.RELATED: Consumer prices saw largest inflation spike in June since 2008The pickup in inflation, which has coincided with the economy’s rapid recovery from the pandemic recession, will likely intensify a debate at the Federal Reserve and between the Biden administration and congressional Republicans about how persistent the accelerating price increases will prove to be.The Fed and the White House have made clear their belief that the current bout of inflation will prove temporary.

As supply chain bottlenecks are resolved and the economy returns to normal, they suggest, the price spikes for such items as used cars,.

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