U.S. Inflation Hit 8.3% In April But Slows From 40-Year High

The video discusses the latest inflation report, showing an 8.3% year-to-year increase in April, slightly lower than the previous month's 8.5%. Monthly inflation also decreased. Despite higher-than-expected numbers, it may indicate a peak in inflation. Key sectors affected include food, energy, and shelter, with rent prices notably impacted. The Biden administration prioritizes tackling inflation, with President Biden emphasizing its importance. The Federal Reserve will assess future reports to determine necessary actions to achieve a 2% inflation target.

What is the Biden Administration's top priority regarding inflation?

What target inflation rate are officials aiming to achieve?