President Joe Biden’s administration remains “quite confident” that the fastest inflation in decades will be short-lived and abate once pandemic-fueled supply-chain and labor-market disruptions ease, according to one of his top economic officials.The rising cost of living is a problem affecting Americans in their daily lives, particularly around the holidays as they pay higher prices for Thanksgiving turkeys and Christmas trees, and Biden understands the impact, Commerce Secretary Gina Raimondo said in an interview Thursday.Biden’s administration also has the solutions, she said. They include expanding the labor market through job training; vaccinating more people against Covid-19 so that they can return to work; increasing employment of women through the Build Back Better Act’s expansion of child care and early childhood education; and investing in American semiconductor manufacturing and ports to address shortages of goods.
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