Biden: Inflation coming down but more work to be done

President Joe Biden said on Tuesday (December 13)that inflation in the United States was coming down and things were headed in the right direction even as more work remained to be done.

"I want to be clear, it's going to take time to get inflation back to normal levels. As we make the transition to a more stable growth, we could see setbacks along the way as well. We shouldn't take anything for granted," he said.

Biden said his goal was to get price increases under control without hurting economic growth and to lower inflation while keeping the labor market resilient.