Fixing Inflation Won't Be Easy, Says Biden

The transcript discusses the challenges of inflation, focusing on the role of the Federal Reserve and supply chain issues, particularly in the automobile industry due to a shortage of computer chips. It highlights efforts to address these issues through legislation and international cooperation to stabilize energy prices. The discussion also covers market competition and its impact on consumer prices, emphasizing the need for smaller businesses to enter the market. The conclusion addresses the potential benefits of the Build Back Better proposal and the ongoing challenges in managing inflation.

What is one of the main reasons for the increase in automobile prices?

• Increase in fuel prices

• New environmental regulations

• High demand for luxury cars

• Shortage of computer chips

How did international cooperation help in managing energy prices?

• By investing in renewable energy

• By releasing petroleum reserves

• By reducing oil production

• By increasing taxes on oil

What challenge do middle-class people face due to rising energy prices?

• Higher electricity bills

• Increased public transport fares

• Higher gasoline prices

• More expensive home heating

What is a contributing factor to the high cost of hamburger meat?

• Drought affecting cattle farms

• Increased demand for beef

• Limited number of controlling companies

• High import taxes

What strategy is suggested to reduce food prices?

• Encouraging more competition in the market

• Implementing price controls

• Importing more food products

• Increasing subsidies for farmers