In an interview with NPR, the Treasury secretary calls to permanently expand the child tax credit being paid out to American families starting this week.
The Fed is maintaining its easy money policies for now in an effort to speed the economic recovery. It left interest rates near zero despite a jump in consumer prices.
The Labor Department says consumer prices jumped 5% for the 12 months ending in May. That's the sharpest increase in nearly 13 years, as the economy rebounds from the pandemic recession.
Prices are jumping as the economy rebounds from the pandemic, but the Biden Administration and the Federal Reserve say a return to 1970s-style inflation is unlikely.
Americans continue to say they approve of how the president is handling the coronavirus pandemic, but he may be running into speed bumps because of inflation and other issues.
Consumer prices jumped last month as businesses struggled to keep pace with booming demand, but the Biden administration and the Federal Reserve say the uptick in inflation is likely to be temporary.
