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The speech comes as 20% of Americans think the country is headed in the right direction, while 74% believe it’s on the wrong track.
Biden released a statement asking Congress to make it harder for banking executives to land future jobs in the industry.
Reasons for the high inflation rates are due to high gasoline prices, which were up nearly 60% over the year despite falling recently.
Biden's comments are raising questions about who at the White House knew of the shortage before the President.