Biden Says He Doesn’t Believe His Policies Have Caused Inflation

U.S. President Joe Biden, under pressure to tame high inflation, told Americans on Tuesday that he understands their plight and that he and the U.S. Federal Reserve are working to solve what he called his administration's top domestic priority.

"They're frustrated," Biden said of Americans paying more for goods and services across the board. "I don't blame them."

As inflation pushes annual consumer prices more than 8% higher than a year ago, the president highlighted his release of oil from strategic petroleum reserves and his pressure on companies with record-high profits to lower prices.