Biden calls inflation stubborn, says theres more to do on economy in exclusive interview [Video]

(NEXSTAR) — Through the last few years, Americans have been saddled with stubborn inflation. Earlier this week, Federal Reserve Chair Jerome Powell said rate cuts will likely “take longer than expected” amid a “lack of progress” on inflation. 

Though it has tumbled from a peak of 9.1% in the summer of 2022, inflation has remained elevated so far this year. Prices excluding volatile food and energy costs, rose 3.8% in March from a year earlier, the same as in the previous month and well above the Federal Reserve’s target.

This comes at a pivotal time for President Joe Biden, with many pointing to inflation as a sticking point for his reelection campaign. 

On Tuesday, in an exclusive interview with Nexstar, Biden was asked if he was concerned that it would hurt his bid for a second term. The president highlighted the decline in inflation, but admitted it’s being “stubborn and not going down to 2%.” 

“The thing that really affects people’s …